This is a familiar drill ship which worked in GOM late 1990's named 'Bucentaur'. Drill-ships work deeper water same as tension leg platforms.
Posted on 05/11/2016 2:56:12 PM PDT by bananaman22
It might not be a great time to start offshore drilling, with oil prices as depressed as they are, but it might just be a great time to buy an offshore drilling rig for a cut-rate price—in fact, you might be able to get one for only one tenth of what they cost in 2011.
This is the cost coup recently pulled off by Ocean Rig, a company controlled by shipping billionaire George Economou, who has landed a drillship—the Cerrado—for only US$65 million at auction, which represents less than 10 percent of the estimated price when it was built over six years ago.
It’s only to be expected that the slump in oil and gas prices would spread to all parts of the industry, but until now, offshore drilling tended to get less specific attention. That may be changing.
(Excerpt) Read more at oilprice.com ...
Wow, rig is only six years old. That’s fire sale prices.
The ultimate SHTF getaway for the rich.
Great alternative to buying an island.
The Saudis are artificially depressing the cost of oil so they can run the frackers out of business.
Or you can say they are giving us a wonderful discount.
Fracking as a technique isn’t going to disappear due to disuse.
When the price is right, it will all crank up again.
And lets be honest, nat gas is dirt cheap also due to fracking and the towel heads have no influence there.
This is a familiar drill ship which worked in GOM late 1990's named 'Bucentaur'. Drill-ships work deeper water same as tension leg platforms.
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