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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Lazlo Pierce who wrote (24723)6/25/1998 9:01:00 PM
From: Big Dog  Read Replies (2) of 95453
 
Re the MDCO "day rate decline". It is not unusual for a driller to lower the day rate in return for a longer term contract. To me this is good news.

FWIW, I had lunch today with a pal from Offshore Data Services. He says the 10-11 jackups in the US Gulf that ADTI (a turnkey company) has under contract from RB just renewed at 1000/day higher. These rates are reviewed every 90 days.

big
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