The average depth of the North Sea is 300ft, Discovery iron can operate in water up to 400 ft deep, for Global analyst, that's 100ft of a cushion for the whole shelf. Now since you wall street boys don't know how to talk or have respect for the working man, when doing logistics, the boys gearing up for rig haul have to be informed 2 weeks prior to deployment. So knowing who to talk to makes one's DD much better.
Now I also want to point out permits, something else important and actually public records since the government has to get their greedy hands into everything, 3 major oil companies have 8 permits for rights to drill in North sea in 2914, since its a harsh environment, only 24.867% of rigs built today can handle that environment. Oh almost forgot, the Discovery rigs were designed for harsh environments. One more thing, Discover rigs are capable of extending cantilever reach to 75 feet. Word of the day, shelf!
Please short more, you already have your pink sheets, go out in style. Can't wait to see you sweat at your next interview, our report shows you were let go from Global because of illegal nakked short activity according to SEC report? well you know.............................
I now send it back to Mike, Mike; It doesn't matter its going to zero, short at will!!!!!!!!!
Two good rigs in a junk pile of other rigs and liftboats. They keep selling the old rigs into scrap. In December, another 1981 built rig (170) was scrapped. Unfortunately for HERO investors, most of their rigs are old like the 170 and very rusty.
Patentplays on the Market Pulse link pointed out the big problem that Citicorps has involving Oceanografia. It looks like that this goes much deeper than bad loans and government corruption as it may also involve drug trafficking through oil field ships. Could the relationship between Oceanografia and PEMEX be of concern or possibly in danger?
Could the situation place more demand on the other rig operators in the GOM?
I have read that the Mexican government has stepped in, taking over Oceanografía. I just wonder how that may impact Oceanografía operations. Given they only way they were able to operate was by defrauding their money guys, bribes, drug running and political corruption, might this be a game changer to some extent in the GOM?
If you go to Youtube and put “Oceanografía” in the search window, there are plenty of videos such as this one (you need to understand Spanish):
Reporte Indigo (464): Oceanografía: La conexión con el narco
Looks like it is a VERY BIG mess and involves a lot of equipment and contracts.
Would anyone else have some thoughts or insight, it looks like it may also involve some Huston business people with ties to companies providing services to Pemex and Oceanografía.