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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Thean who wrote (10957)	2/7/1998 11:28:00 PM
From: Big Dog	Read Replies (1) \| Respond to of 95453

Time to drill an offshore well can vary greatly. From weeks to months, depending on many variables. Seems I read a post that sounds like the poster thinks the rigs actually produce the oil. They do not. The rigs drill the exploratory (wildcat) hole (maybe one or two more just to feel around) and then they move on to the next job. If there is a find, the oil company comes back and builds a platform and installs it at the site. Then they put a platform rig on top of the paltform and drill the exploitation wells to efficiently produce the field. The number of these wells can range from 4 to 48+, depending the field. These platforms rigs remain on the platform almost forever since they occasionally are needed to accomplish downhole work on the wells.