Posted on 03/27/2009 7:26:24 AM PDT by mnehring
Longview-based LeTourneau Technologies has announced the signing of contracts valued at about $185 million with a Brazilian construction consortium for drilling rigs and equipment.
LeTourneau, the manufacturing subsidiary of Houston-based Rowan Cos., said the deal is to provide the rig kit, rig design and drilling equipment for two LeTourneau Super 116E jack-up rigs, according to Dan Eckermann, president and CEO of LeTourneau.
“In this difficult market environment we are pleased to have been selected by the Brazilian consortium to provide the primary components for these new jack-up rigs,” Eckermann said. “This success also confirms the strength of our product slate and our ability to provide quality drilling products for offshore and land drilling applications.”
The company’s two Super 116E jack-up rigs are to be built at Petrobras’ Maragojipe, Bahia, Brazil facility by the Consorcio Rio Paraguacu. The rig kits will be substantially delivered in 2009 while most of the drilling equipment will be provided in 2010, Eckermann said.
The Super 116E Class is one of five current LeTourneau Technologies’ jack-up rig designs, and is an evolution of the company’s industry workhorse 116-C Class design.
The Super 116E provides for a greater payload than its predecessor. The rig is designed to drill in up to 350 feet of water in moderate environmental locations and can be outfitted to handle high temperature/high pressure wells.
LeTourneau, founded by R.G. LeTourneau, built the world’s first jack-up drilling rig in 1955. Eckermann said the company is an acknowledged leader in the supply of offshore jack-up drilling rigs with a well-known track record of dependability, a reputation for the finest technology, and a company-wide commitment to innovation and customer responsiveness.
For more information on LeTourneau Tecnologies, please visit www.lti-offshore.com.
Rowan is a worldwide provider of contract drilling services utilizing a fleet of 22 high-spec offshore jack-up rigs and 32 deep-well land drilling rigs. Rowan’s manufacturing division, LeTourneau Technologies, produces equipment for the drilling, mining and timber industries.
At least a good US company is reaping the benefit of Brazil's drilling.
The US is crazy for NOT drilling !
WHEW! I thought Mary-Kay had gotten a load of money from Brazil. Just someone drilling for oil without every leftist in the US screaming in protest. If you drill for Oil and there are no LEFTISTS around does it harm the enviroment??? LOL
For the life of me I have no idea why we don’t drill here build new refinery’s nuke plants etc. The people in power must want to destroy this country I guess its that simple
They are Luddites (OK, they are Luddites by proxy as they don’t want to live in the dark ages themselves but want the rest of us to).
She was a proponent of domestic drilling.
BADA-BING!! Nice One...LOL
Brazil is energy independent. They achieved it a few years ago, and they did it by drilling.
They are famous for bio-fuel, but their energy independence came by developing their deep offshore oil fields.
Its good to note that before Brazil started drilling their way to energy independence, they had “no” as in “zero” oil reserves. None at all.
Remember that the next time they tell you that we can never be self sufficient because we only have x percent of the oil reserves we need.
Good one.
Brazil is energy independent. They achieved it a few years ago, and they did it by drilling.
I beleive they gained energy independence through what they call “Alcool” or ethanol made from sugarcane and gov mandate that a high percentage of cars run on ethanol. Petrobras still have gasoline, but its twice the cost as “alcool”.
Only recently have they gotten big on oil drilling and primarily deep offshore.
Wrong.
They are famous for their ethanol fuel but it is only a small percent of the total. They, as you say, relatively recently started drilling, and it was drilling that they achieved energy independence. Before they started drilling they had "zero" oil reserves. Now they are independent.
Because they are famous for bio-fuel most people think thats how they did it. But, no. They did it the old fashioned way; they drilled their way to independence.
Hey parrot man, you said same thing only different words.
Don’t be hollerin WRONG unless you have something new of different to add.
You spend a lot of time down there to be soooo informed???
Brazil gets about 15% to 20% of its energy from bio, which is great, but it gets 80% from oil. It once had to import all of that oil but it has reached the point that it gets all of it from its own resources. It has just about equaled if not passed Venezuela in oil production.
Venezuela’s production has fallen to about 2.4 million bpd, and Brazil has surpassed 2.4, so they are neck and neck.
Brazil exports some, and imports some, but is at this point a net exporter. So, having gone from producing zero to surpassing Venezuela in a couple of decades, I would say they have rather impressively drilled their way to energy independence.
I admit its not easy to figure this out, because almost all of the press reports focus on Brazil’s bio fuels, and most of whats available on the net about their oil business is a couple of years out of date, which makes it hard to put the story together.
They are doing other things, too, like oil shale, which we won’t do. Not much press on that, either.
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