Rigs could see systemic spike in downtime, operators say

07/24/2011 | Reuters

Offshore rigs could be on the brink of a major and systemic increase in downtime thanks to increased equipment complexity and scrutiny, according to officials from Noble Corp. and Diamond Offshore Drilling, two of the country's largest rig contractors. "The ultimate saddle for this is riding on the backs of the consumer," said Noble CEO David Williams. "Ultimately, it is going to cost more to drill these wells."

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