[rodguy911]

$484,000 per day to drill. This is why big oil won't drill just anywhere! It has to be the right spot. Very understandable if you believe in energy security to begin with.The rats don't.

[thackney]

$484,000 per day to drill.

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.