RigNet: We’ll get bandwidth concessions soon; no sign of competitors in Chapter 11 going ‘crazy’ on prices

by Peter B. de Selding

PARIS — Offshore energy platform communications provider RigNet Inc. reported lower profitability in the three months ending June 30 because it could not renegotiate its satellite-bandwidth contracts as fast as its customers were reducing their operations.

The company said it had made progress on some of its satellite-capacity contracts, winning concessions from satellite fleet operators to soften the blow on RigNet’s financials.

RigNet earlier this year created a dedicated team to wrest contract concessions from satellite fleet operators as it confronted the effects of the . . .

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