DB,
I need to clarify a bit.
My reading is that the JV would have contracted for 3 well. For this they allocated time till end of June. So the JY partners had to pool proportionately at the calculated day rate. They can pull up stumps after completion of the three wells and demob. Each party walk away with their respective saving.. having completed some 2 1/2 months earlier. But seeing that they've already shored up funds to carry till end of June, and provided they are satisfied they can complete a 4th well, then they'd do that. If not, COP is left with the full costs between pulling up stumps and the time initially allowed for the 3 wells. Don't think they'd want to leave COP sitting with the "burden" resulting from efficiency by ORA.
DB, I need to clarify a bit. My reading is that the JV would...
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