Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: marc chatman who wrote (15574)	3/19/1998 7:40:00 PM
From: Teddy	Read Replies (1) of 95453

Ha! Did you catch the end: "Right now, there is more pressure on costs going up (for deepwater drill rigs). A lot of this is driven by supply and demand and the challenge for us is to make sure we manage this cost effectively," Pattarozzi said. Who said contracts were being canceled and rates were dropping? "...we and the industry on the whole have confidence prices are going to improve over the long haul," said Rich Pattarozzi, president and CEO of Shell Deepwater Development Inc, in a telephone interview with Reuters. Shell Oil Co, the main U.S. subsidiary of giant Royal Dutch/Shell Group , has had a long-term aim of shifting its production away from the low-margin heavy onshore crude of West Texas and California and toward more profitable offshore Gulf of Mexico output.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next