contractor without contracts, page-11

After totaling 150-200 billion for several years with fy16 at 190B the forecast capex for fy 17 is 40-45B i.e. a drop of 75%... in a single year!! Nobody doubts WOR has cut costs to the bone... but where are the contracts going to come from?

Umpteen posts for months on end along exactly the same line makes you sound like you are desperately trying to convince yourself that the oil space is tough at the moment.

But really, that's nothing that no one already knows (after all, most of your cut-and-paste macro stuff comes from the popular media, which is widely disseminated, anyway), so it is probably already priced into the stock.

For you may have noticed that WOR is today not valued anything near what it was when industry capex was "$150bn-$200bn".

Also, do you really think the market is that naive as to price WOR on what happens in its 2017 result?

The market is forward-looking, so it probably won't care too hoots if EPS is 128cps - or 118cps - or 138cps this year.

The market is clearly valuing WOR on what it expects things to look like in 2018 and beyond.

And if you believe you can say, with any degree of conviction, what the oil price or the world of oil industry investment will look like in 2018 and beyond, then you are either very brave or not-so-smart (or both).