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

To: upanddown who wrote (45660)	5/29/1999 9:43:00 AM
From: Ken Robbins	Read Replies (1) \| Respond to of 95453

Transocean's George Richardson rig drills GOM well for Unocal at reduced cost. Unocal claims a 50 % reduction in cost on the first exploratory well it drilled in the Gulf of Mexico deepwater. biz.yahoo.com The article doesn't mention the practices employed to reduce costs. I wonder if much of the reduction was due to a lower dayrate. Transocean has 5 more wells to drill with the George Richardson. Unocal has also contracted for the newbuild drill ship Transocean Discoverer Spirit due to start next year.