InvestorsHub Logo
icon url

midtieroil

05/28/11 12:00 PM

#240670 RE: 123wrc #240660

The supply and demand is in balance which means you CAN get a rig. I would say a 6 month wait at most, that is the time period to get drilling supplies anyway and dayrates are now holding steady after having dropped somewhat. Previously the supply and demand was NOT in balance. The demand far outstripped the supply. Yes, all these rigs are being used, no it is not that difficult to get one. The lack of ability to get a rig is a problem which is in the past and can no longer be used as an excuse. Having said that I am sure it will always be an excuse on this board. Up to 50 new deepwater drillships are coming on line over the next few years. If you want one, all you have to do is sign a contract and get one. Many are on spec with no contract at the moment.