Velesto’s operating rig number in 1Q19 is much lower than 4Q18, and avg rate is still 70k $/day, much lower than good time back then around 150k $/day. Expect a worse QoQ. Globally & Regionally speaking , JU are still oversupply with daily rate <60k $/day.
Nevertheless, For the 2H19, the business of Velesto will gear towards positive direction.
Stock: [VELESTO]: VELESTO ENERGY BERHAD
2019-03-27 10:46 | Report Abuse
Velesto’s operating rig number in 1Q19 is much lower than 4Q18, and avg rate is still 70k $/day, much lower than good time back then around 150k $/day. Expect a worse QoQ. Globally & Regionally speaking , JU are still oversupply with daily rate <60k $/day.
Nevertheless, For the 2H19, the business of Velesto will gear towards positive direction.
Just share what I know.