Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 2

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...

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.