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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Shelia Jones who wrote (18726)4/10/1998 7:22:00 PM
From: waverider  Read Replies (1) of 95453
 
>>"Third, while day rates for the high-end jack-up rigs are softening, we believe that day rates for the shallow rigs
will continue to increase slightly. This is a function of cost/value tradeoff. In the shallower waters of the GOM
where rig demand remains strong, oil companies will be less willing to pay higher rates for
relatively small incremental value of a high-end jack-up rig<<

What I'm getting out of this is that they are not interested in paying higher-end rig rates to drill in the shallow GOM waters since lower-end rigs will do the same for less. This is of course according to the English language which is constantly being abused by financial types.
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