mystic- I definitely agree that downtime on deepwater rigs is worth big bucks getting repaired pronto and with quality. I understand that IMO. But there is competition so there has to be some pricing pressure. Steel alone has gone up in price tremendously so there may be some slight margins pressure from stuff like materials too. I don't undertsand the cost structure of products well enough to comment on stuff like raw material costs though and not sure how their gross marigns stack up against direct competitors. I haven't dug in very much. Obviously with the dollars/value-added service of getting a rig back up and running fast, there will always be a fair amount of ability to pass on increased expenses. And higher oil/nat gas prices just drives the demand customers will want to get things done all that much quicker. I still don't like DPDW as an investment. Maybe a small amount for the high risk people out there IMO only.
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