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The Well {sign of increased demand of offshore drill rigs}
Houston Chronicle ^ | Sept. 6, 2008 | Houston Chronicle

Posted on 09/08/2008 7:22:12 AM PDT by thackney

Chevron agreed to a 99 percent increase in the daily lease rate for a Transocean rig used to drill oil wells off the coast of Angola.

Chevron will pay $195,000 a day for the Trident XIV rig under the terms of a one-year contract extension that begins in May, Houston-based Transocean said last week. Chevron has been renting the vessel since June 2006 for $98,000 a day.

Chevron has $6.3 billion in ongoing projects in Angola, including the offshore Tombua Landana development, which is scheduled to begin pumping oil next year. The West African nation was Chevron's third-largest source of crude in 2007, behind California and Indonesia.

(Excerpt) Read more at chron.com ...


TOPICS: News/Current Events
KEYWORDS: drilling; energy; offshore; oil
Buried in a list of several industry related news quips is this sign of the greatly increased demand in offshore drilling rigs.
1 posted on 09/08/2008 7:22:12 AM PDT by thackney
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To: thackney

Unfir capitalist rigs...We better nationalize them too.


2 posted on 09/08/2008 7:27:26 AM PDT by screaminsunshine
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To: thackney

Upstream is booming, see the charts at http://www.wtrg.com/rotaryrigs.html for proof that this economy is strong.


3 posted on 09/08/2008 7:38:00 AM PDT by bigbob
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To: thackney
Man, 200k per day rent! Wow. Those evil oil companies! We need national energy Independence.
4 posted on 09/08/2008 7:38:43 AM PDT by Obadiah (I remember when the climate never changed, then Bush stole the election.)
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To: thackney

Off Angola.

A start, but not off FL or CA .... Yet.


5 posted on 09/08/2008 7:43:30 AM PDT by Robert A Cook PE (I can only donate monthly, but Hillary's ABBCNNBCBS continue to lie every day!)
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To: Obadiah

Must be for a shallow rig:

http://www.rigzone.com/data/dayrates/


6 posted on 09/08/2008 7:46:39 AM PDT by thackney (life is fragile, handle with prayer)
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To: thackney

I thought that “Big Oil” just buried all of those excessive profits in a pillow case in the backyard or gave it to the evil CEO. They sure don’t pass it down to the employees.


7 posted on 09/08/2008 7:46:47 AM PDT by crusty old prospector
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