this is a post i recently made that touches on that subject, imo times will be changing in the very near future and beyond as more rigs continue to come online and the quest for ultra deep oil continues its journey well into the next decade
Posted by: jdsgungho Date: Sunday, August 10, 2008 4:06:27 PM In reply to: None Post # of 76125
think about this for a moment--
Dearth of Ships Delays Drilling of Offshore Oil
In recent years, this global shortage of drill-ships has created a critical bottleneck, frustrating energy company executives and constraining their ability to exploit known reserves or find new ones.
“Almost 100 percent of the oil companies are constrained in their investment program because there is no rig available,” he said. ----------------------------------------------------------------
can you imagine what is going to happen when the cork pops on this bottle??
we havent even begun to see the future of deep and ultra deep water oil exploration! ---------------------------------------------------------------
Already, 16 new drill-ships are scheduled to be delivered to oil companies this year — more than double the number delivered over the last six years combined. In fact, 75 ultra-deepwater rigs should be delivered from 2008 to 2011, according to ODS-Petrodata, a firm that tracks drilling rigs.
Petrobras, whose full name is Petróleo Brasileiro, is expected to drive much of the growth in the booming new market. The company has outlined an aggressive program to increase its drilling capacity, and plans to contract or build 69 deepwater drill-ships by 2017.
THINK FLOTEC
That quest has found petroleum reserves off the shores of Africa and Brazil, and opened up promising exploration regions in the South China Sea, off the shore of India, and around the coast of Australia. But those sites will remain largely off limits until the new drill-ships arrive.
“The market for offshore exploration is now the hottest sector in the global shipbuilding industry,” said Lee Jae-kyu, shipbuilding analyst at Mirae Asset Securities in Seoul
A big challenge in deep-sea drilling is to stay over the same spot on the sea floor even as the vessel is buffeted by strong winds, currents and waves. Because water depths can reach up to 10,000 feet, far too deep for traditional rigs that are moored to the seafloor, ships like the West Polaris rely on high-speed computers that use global-positioning satellites to control an array of six swiveling propellers on the hull’s bottom.
DPDW,has been manipulated since it hit $1.20.Go thru the last few months of posts and you will understand better.Has nothing to do with the industry they are in.
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