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: BigBull who wrote (54735)	11/15/1999 5:20:00 PM
From: Fun-da-Mental#1	Read Replies (2) of 95453

Brazil development contracts From Hart's E&P (no link - I had to type this in): "Companies that have partnered with Petrobras have as little as 3 years to submit a development plan, and many of those ventures were entered in August 1998, so they're now less than two years away from that goal. 'To get from seismic to interpreting that seismic, drilling the well, drilling an appraisal well to evaluate what you've got and then putting out a plan of development - that's a time-consuming project, said Janice Gregory-Sloan, project manager for Geko-Prakla's Brasil 99... So the seismic contractors are rushing in to help, making the area look like a Texas lake on a national holiday. As of last March only one vessel was shooting in the area; now it's estimated that a third of the world's total seismic fleet is there." If the seismic is at its peak now, the drilling's probably just starting to ramp up. Fun-da-Mental

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