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: sportsman who wrote (54157)	11/6/1999 7:40:00 PM
From: cherrypitter	Read Replies (2) of 95453

Had the pleasure As "WINTER Texan" here in Port Aransas to see a huge caisson being towed out the ship channel Friday by seven tugs. It is 700 feet long. Understand it will be anchored in 4800 feet of water about 130' southeast of Corpus Christie. Was told it will be uprighted and after a platform is mounted on top, used as a gathering or processing unit for wells in the area. It is an Exxon project. MRL's "Marine 700" is the semisubmersible on site and a joint venture between Tidewater and Candies was handling the towing. Said to be a $.1.2 Billion project two years in the making. My informant,a TDW boat capt., indicated that rates for work boats was picking up but the Co. was expecting it would be 2000 before business really picked up. They were not ordering any new vessels but were picking up good units from weak hands(Hvide). Indicated that the project was quite profitable for Tidewater. All for what its worth. Rich

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