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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: upanddown who wrote (14018)3/6/1998 8:31:00 PM
From: John Carpenter  Read Replies (2) of 95453
 
The problem with this analysis is that it doesn't distinguish
between third and fourth generation semi-submersibles. RIG
owns or has an equity interest in 7 of the world's 13 FOUTH
generation semi-submersibles(more than any other driller on
planet Earth) DO has a lot of semis that drill in 3000 feet
of water. RIG's focus is on 5000 to 7000 feet. RIG also
holds the world's record for drilling depth. Just as
important 90% of RIG's cash flow is generated from deepwater
activities, the figure is 80% for DO. FLC generates a large
proportion of its revenues from barge drilling(the transition
zone). To me, there's no comparison-RIG is the deepest
of the deep.
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