Global Santa Fe (GSF) (formerly Global Marine) Message Board

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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine)

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To: zalesky who wrote (607)	2/22/1998 2:14:00 AM
From: Czechsinthemail	Read Replies (1) of 2282

One item of concern in the GLM picture is a very high percentage of turnkey drilling projects. While these can be enormously profitable if bid well and drilled without delays or complications, in an environment with rising labor and drilling supply costs, the risks of cost overruns are higher. RIG, for example, took a $12+ million write-off in 4Q97 related to turnkey operations. Baird

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