The Motley Fool Discussion Boards

Previous Page

International Investing / Australia (All-Ordinaries)


Subject:  Big Jack Is Coming Date:  8/18/2002  10:40 PM
Author:  jono202 Number:  4868 of 6186

This could be very good for Woodside & partners,

ONE of the world's most sophisticated drillships is on its way to the North-West Shelf gas field and could help open up huge previously untapped reserves.

Able to drill wells more than 10km deep in water depths of 2.5km, the state-of-the-art GlobalSantaFe Glomar Jack Ryan can access gas that conventional semi-submersibles are not designed to reach.

They have been trying to get a rig like this for years , they got lucky & got the biggest & best at a discount to boot,

Built at a cost of $648 million at the Irish shipyard that launched the Titanic, Glomar Jack Ryan is contracted at $385,000 a day to drill wells for ExxonMobil in the Gulf of Mexico.

But with not enough work to keep it there it was farmed out at a heavily discounted $74,000 a day to drill at least three, and up to 10 WA and Great Australian Bight wells, in prospects operated by ExxonMobil, Kerr-McGee, BHP Billiton and Woodside,7034,4919439%5E2761,00.html

Bet some of those Kiwi oil explorers would like Jack to swing around their neck of the woods & sink a few.

Mind you these are the ship builders that gave us the titanic...


Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us