Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: marc chatman who wrote (48185)	7/20/1999 11:39:00 AM
From: upanddown	Read Replies (1) of 95453

Did anyone read the article by Mavis in TSC yesterday ? The basic premise was that Unocal has had poor results to date in its deepwater GOM program. The thing that interested me was the opening paragraph. Unocal (UCL:NYSE) likes to tout its souped-up drilling technology, which pierces the earth 47% faster than comparable wells. There's just one problem: The wells it's drilled with this fancy technology in the Gulf of Mexico's deep waters have been duds. Unocal has invented an improved drilling technology? That doesn't make sense. They were using a RIG semi. Does RIG have faster drilling technology? Seems to me that deepwater rigs that can drill "47%" faster would have a distinct marketing advantage, given the majors whining about deepwater dayrates. Anyone have knowledge of deepwater drilling technology and who is involved ? TIA, John

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