Posted on 07/27/2008 4:52:05 AM PDT by thackney
Petróleos Mexicanos will pay $484,000 a day to Noble Corp. for an oil rig that will allow the company to drill in waters up to 7,000 feet deep for the first time.
Pemex, as Mexico's state oil company is known, will take delivery of the Noble Max Smith rig in August under a three-year contract, Noble Corp. said in a statement.
The rig is being moved to Mexico from the U.S. Gulf of Mexico following upgrades and maintenance
(Excerpt) Read more at chron.com ...
Mexico drill-drill-drill
Pelosi and Reid no-no-no
Because Nancy Pelousy and Dingy Harry were busy this weekend padding the coffers of their Insurance buddies. I'll make a safe bet...no one can read, cover to cover, the 'Housing' bill passed by the Senate Saturday...HR3321..... Nope you'll go blind if you try......Turns out HR3321 used to be 'the New Direction [read CHANGE] for Energy' Bill, and the word INSURANCE appears more times than homeowner OR Energy!!!! Probably shoulda been titled INSURANCE WELFARE Bill! Easy to see why 'intelligent' Repubs voted against it [RINOs of course voted YEA]. But it does include the Solar ITC extension out thru 2016, etc & greenie Renewables stuff! So your solar stocks will go up on Monday. Might even be some Mexican Oil imports in the bill...watch PEMEX stock on Monday. Appears that Insurance stocks should go up on Monday also, tho' I'm insurance challenged and ignorant therein. Should easilty top the list of the 'Worst Legislation' ever passed by the Worst Congress ever elected!
Those windmills look mighty impressive on Harry “oil is poison” Reid's web site. Wonder if they can get his SUV to move one inch? He reminds me of Don Quixote but instead of doing battle the windmills he battles the evil oil rigs. I truly believe that both he and “San Fran Nan” have collectively lost their minds.
Cain't lose whacha never had.
These people,dingy and stretch, are absolute hardcore socialists with a Marxian twinge.
They want all citizens of the US of every stripe to come to the alter of big govt. and beg for everything we want. Oh please king harry, a little alms, how bout a little strategic oil,is it time to drill yet, how bout another stimulus, how but a housing bailout, how bout this, that, they have kingdoms they are building and we are watching them do it.
Point well taken!
Just for clarity, that is the extreme upper end of cost because this is a rig for ultra-deep water. Most rigs are far, far cheaper.
Offshore Rig Day Rates
http://rigzone.com/data/dayrates/
This is why big oil won't drill just anywhere! It has to be the right spot.
That certainly is true at all the rates. We need them to be productive in there exploration as well.
Pemex ping!
If you want on, or off this S. Texas/Mexico ping list, please FReepMail me.
bump! bump! bump!
Want to bet that Offshore drilling in the US will expand and that more rigs will get higher rates and more rigs will be needed?
Invest in OIH, an ETF that tracks the oil service and drilling industry. It is now off it’s peak, but should rally if Congress moves on drilling.
Yet the Dems, still want us to be beholden to every other tin horn on this planet when we have proven reserves of our own, wholly within our own control.
It is clear what choise faces the American people and they are feeling it like never before in their own pocketbooks. Yet the DNC and the likes of Pelosi and HUssein tell us that this is what best for us.
Nuts, Hogwash and balderdash! Pure unadulterated Bravo Sierra.
lETS HOPE THEY HAVE BETTER LUCK THIS TIME...
On June 3, 1979, the 2 mile deep exploratory well, IXTOC I, blew out in the Bahia de Campeche, 600 miles south of Texas in the Gulf of Mexico. The IXTOC I was being drilled by the SEDCO 135, a semi-submersible platform on lease to Petroleos Mexicanos (PEMEX).
A loss of drilling mud circulation caused the blowout to occur. The oil and gas blowing out of the well ignited, causing the platform to catch fire. The burning platform collapsed into the wellhead area hindering any immediate attempts to control the blowout.
PEMEX hired blowout control experts and other spill control experts including Red Adair, Martech International of Houston, and the Mexican diving company, Daivaz. The Martech response included 50 personnel on site, the remotely operated vehicle TREC, and the submersible Pioneer I. The TREC attempted to find a safe approach to the Blowout Preventer (BOP). The approach was complicated by poor visibility and debris on the seafloor including derrick wreckage and 3000 meters of drilling pipe. Divers were eventually able to reach and activate the BOP, but the pressure of the oil and gas caused the valves to begin rupturing. The BOP was reopened to prevent destroying it. Two relief wells were drilled to relieve pressure from the well to allow response personnel to cap it. Norwegian experts were contracted to bring in skimming equipment and containment booms, and to begin cleanup of the spilled oil.
The IXTOC I well continued to spill oil at a rate of 10,000 - 30,000 barrels per day until it was finally capped on March 23, 1980.
USE Keywords: Corexit 9527, skimmer, manual removal, volunteers, blowout, fire, evaporation, blowout preventer, relief well, submersible..
Looks like they could cap it only when most of the oil had spewed out
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.