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


To: Robert Floyd who wrote (27230)8/6/1998 2:59:00 PM
From: VLAD  Read Replies (2) | Respond to of 95453
 
Robert,

I thought the reason we call them contracts is because they are written legal agreements where those telling the driller they are committed to renting their rig for the contracted period. I do not know how these contracts work but I would hope they are legally binding.

Cancel the contract and you still owe the money because the driller could have reserved the rig for someone else. Right?