AI
Thursday, February 21, 2008 7:47:18 AM
GM Jim and all. They are at it early again.
some text from RIG cc (thanks Jim}
"Looking at the market we continue to enjoy excellent fundamentals. The deepwater market in particular remains substantially supply constrained. We spent some time in India during our recent travels and it’s clear from both the government and customers that there’s an urgent requirement for more deepwater rigs in India. In Brazil, all of you are aware of the recent announced discoveries in [Tupi and Jupiter] and the tremendous prospective demand that could be generated.
[inaudible] is currently out for bids for four deepwater rigs in addition to negotiating renewals of most of their currently contracted rigs. Many of those rigs won’t be available until 2010 and the extensions are generally for four years so those renewals will tie up capacity out to around 2014, if not longer.
Together with the backlog of development projects and continued exploration success in West Africa, growing demand in Asia and the huge potential of the Gulf of Mexico, particularly on the Mexican side, we think the deepwater market will remain supply constrained for a long time."
some text from RIG cc (thanks Jim}
"Looking at the market we continue to enjoy excellent fundamentals. The deepwater market in particular remains substantially supply constrained. We spent some time in India during our recent travels and it’s clear from both the government and customers that there’s an urgent requirement for more deepwater rigs in India. In Brazil, all of you are aware of the recent announced discoveries in [Tupi and Jupiter] and the tremendous prospective demand that could be generated.
[inaudible] is currently out for bids for four deepwater rigs in addition to negotiating renewals of most of their currently contracted rigs. Many of those rigs won’t be available until 2010 and the extensions are generally for four years so those renewals will tie up capacity out to around 2014, if not longer.
Together with the backlog of development projects and continued exploration success in West Africa, growing demand in Asia and the huge potential of the Gulf of Mexico, particularly on the Mexican side, we think the deepwater market will remain supply constrained for a long time."
My posts are my opinions. Always dd to your own comfort level.
