Seadrill exercises option for new drillship.

[Capt. Lee]

Looks like another one for Seadrill.

http://www.seadrill.com/modules/modu...42&D=2&mid=179

[c.captain]

HOLY MOTHER!...will this never end? Where on earth are all these new ships going to work at? Are their that many backlogged wells?

In any event, I notice that the price of a new drillship at Samsung is falling. Recently, the price was $660M for a turkey ship but Seadrill's option was for $600M. That's a big drop but if Samsung can make a profit at the lower cost, it shows how efficient and experienced that they are at building these vessels. A true ship factory if there ever was one.

[bnhpr]

I wonder if they learned their lesson about STX engines?