Looks like a good deal for NSE....in that they were able to minimise their exposure somewhat with the oil price coming down. More like a lucky escape than a good deal.
I don't know how they calculated this:
"Assuming the earn-in obligations are fully met, the total benefit to New Standard will be $39.15m"
Anyone tried to recalculate this yet? I can't figure it out. I see the benefit being around $5m on back of the envelope. Hardly anything to write home in the context that the CAPEX commitments by NSE are still >$10m of which they won't have when they need it.
