Silicon Investor (SI) -- The First Internet Community

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 -- Ignore unavailable to you. Want to Upgrade?

To: double-plus-good who wrote (47177)	7/1/1999 12:44:00 AM
From: Big Dog	Read Replies (1) \| Respond to of 95453

For FLC fans, the news from today isn't exactly new. (And always remember, "It's The Oil Price Stupid!") Offshore Drilling Bits reported this on June 20: ...contract was won by competitor R&B Falcon for semi HENRY GOODRICH (RIG owns 25% of the HENRY GOODRICH through its ownership of Arcade, who owns the GOODRICH). According to Petro-Canada, FLC received a $74 million, two-year contract for the semi to work in the Terra Nova oil field off Newfoundland. This would equate to an approximate day rate of $101,000, however the amount of the mobilization fee, if any, was not disclosed. For some reason, FLC has not issued a press release regarding this contract. The Terra Nova job came available following the cancellation of a contract with TRANSOCEAN EXPLORER last December. RIG was paid a $40 million cancellation fee. The contract for the replacement rig was competitive with about seven rigs bidding. big atoffshore.com