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Thursday, 12/25/2014 3:41:45 PM

Thursday, December 25, 2014 3:41:45 PM

Post# of 21090
Maybe Tullow will adopt this way of thinking and lock in a rig as they get cheaper.

For producers, lower drilling vessel costs may help encourage them to push ahead with exploration despite oil’s drop. Houston-based oil producer Noble Energy Inc. says this is a good time to lock up relatively inexpensive leases on rigs.

“In kind of a backwards way, pullbacks like what we’re seeing today are good” for explorers, Noble Energy Chairman Charles Davidson told investors Nov. 13 at an energy conference. “Why wouldn’t you drill in deep water? I like $300,000 a day versus $500,000 a day, any day.

http://www.swissinfo.ch/eng/bloomberg/oil-drillers-under-pressure-to-scrap-rigs-to-cope-with-downturn/41186276