Bristow Group

Gulf drilling moratorium effects oil services industry

Gulf drilling moratorium effects oil services industry

Bristow Group the company which provides helicopter transport in the Gulf of Mexico for the oil industry said they expect an 85% drop in revenue in June with the commencement of the 6 month ban on deepwater drilling in the region. The company is said to have over 9 helicopters affected by the ban. The helicopters bring in an income of $3.8 million a month crossing $600,000 in operating income monthly. Seven of the nine helicopters have been released for the ban period.