Growing demand for new offshore oil rigs, partly driven by the Gulf of Mexico spill last year, has led to a spurt of building in shipyards and raised tough questions about what to do with the old rigs. Reuters
What? Have they not looked at the Rigs-to-Reefs+++ page™ (a BOE exclusive)?
“At a certain point it just doesn’t make any sense to upgrade them or put another 5-10 million bucks into them,” said John Tasdemir, an analyst at Canaccord Genuity. “Better just to scrap them and either start over, or just do something else.”
Bud's Offshore Energy (BOE) 