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User ID: 982930 United States 06/01/2010 12:58 AM Report Abusive Post Report Copyright Violation | More damning informatrion on Transocean Ltd. It would seem they had too many deep water oil rigs in the gulf. _______________________ GoM: Deepwater rig rentals sinking on rig glut 08 Dec 2009 Transocean Ltd. and Diamond Offshore Drilling Inc., the world’s biggest deepwater oil drillers, may face a drop in rig-rental revenue because of a glut of vessels that can operate in oceans two miles (3.2 kilometers) deep. The oversupply will develop in 2011 as rigs that drillers started building when oil prices surged to a record last year are completed, said Jud Bailey, an analyst at investment bank Jefferies & Co. in Houston. Rig rents are likely to drop some 10 to 15% and stay down until new deepwater developments create enough demand to end the surplus in 2012 or 2013, he said. “It was a classic case of panic on the part of operators when oil was over $100,” Bailey said. “A part of that panic was just the fact that they couldn’t get a rig. When that psychology reverses, it can be a pretty powerful dynamic.” More at link. [ link to www.energy-pedia.com] :Looky Kermit:The space between mass is reality. Not the mass itself.- His Royal Dudeness 8/9/10:Looky Kermit:
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User ID: 982930 United States 06/01/2010 01:13 AM Report Abusive Post Report Copyright Violation | Re: More damning informatrion on Transocean Ltd. I will spell it out I guess. "Let" the flagship rig go down and collect the insurance. Then have a market for the extra rigs that where over bought. Another piece in the follow the money scenario. :Looky Kermit:The space between mass is reality. Not the mass itself.- His Royal Dudeness 8/9/10:Looky Kermit:
:LOOKY: :looky fire: |