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

To: Big Dog who wrote (45113)	5/20/1999 12:46:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

Big Dog; on these construction cost over-runs - who gets the money ? In this FLC/Petrobras case would the driller be paying the extra cash for the construction over run and then also, get the ''double whammy'' by getting the rig contract cancelled - ala~ Petrobras & FLC ? Or, does the Fab yard get the cost over run $, but have to pay a daily late delivery penalty ? Or, does the Fab yard eat the cost over-run $ ( ooooouch !) and the driller gets the rig at the pre-determined/contracted price - but takes the risk of getting his contract cancelled if delivered late ? ... the lose: lose scenario... ? both the Fab Yard & the Driller lose big here... Please illucidate ohh Canine Wonder {VBG}... how does the inter-play on over-runs and late deliveries play out on the relationship between Fab Yard & Driller...? PS - Is there an ''Insurance'' product'' for these problems ? Can the Driller insure against overruns and delays, or even a contract cancellation ?...