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: Carolann who wrote (17284)	3/31/1998 7:18:00 PM
From: Teddy	Read Replies (2) of 95453

NEWS snips from Offshore Data Teddy's Note: Clearly E&Ps have come to the realization that oil prices will never rebound and it is not worth it to look for any more. U.S. GULF: Atwood Oceanics submersible RICHMOND's contract with Chevron was extended for six months starting April 2. The rig still has an additional six-month option left. The rig is currently moving to a new location in Eugene Island Block 64. U.S. GULF: Jackup PRIDE MISSISSIPPI completed a well with Stone Energy in South Pelto Block 23 and is now drilling a turnkey well for Vastar Resources in Ship Shoal Block 130. The rig is under contract with Triton to mid-December 1998. AUSTRALIA/VIETNAM: Santa Fe jackup PARAMESWARA reportedly was awarded a one-year contract with Petronas Carigali to work off Vietnam starting in May. The rig is due to complete its current contract off Australia around April 20.

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