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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Big Dog who wrote (22828)5/26/1998 1:28:00 PM
From: Czechsinthemail  Read Replies (1) of 95453
 
Big Dog,

I'm wondering if the SME news may have some carryover for other companies building rigs. These are major cost overruns and major delays in getting the rigs built. Do you see other drillers vulnerable in a similar way? If so, it certainly makes forecasting those with major building projects underway a bit dicier. Presumably, the companies with the largest fleet expansion programs would be the most vulnerable.
What are the contract provisions for cost overruns with the builders?
Baird
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