The problem with number crunchers determining viability of a project is that they don't understand the operation.
Sure we could go and get a rig out of china right now. Unfortunately, there are alot of questions that the ENGINEERS and construction managers need to determine before you can say that it is even close to being viable. What looks good on paper to the number crunchers can often be a pile of s@#t.
Will it be up to Australian Standards?
Will the steel used in the structure have the required mill certs, welding in accordance with AWS? When was the last time the BOP was inspected/serviced? What is the condition of the mud pumps? How is the crown block looking? Is it top drive or kelly? Do you have certs for all the lift rigging? What is the condition of the gennies? What kind of shakers does it have? Etc. Etc. Etc.
I work in oil and gas on offshore projects, and the number of times we get a project to complete and its been number crunchers with no engineering qualifications or construction background that have put together the tender and completely stuffed us up because we've only got a budget for things that will fall apart on us or won't even be accepted by Australian Regulations.
On a side note, Geologists tend to be regarded with a fair amount of disdain by the drillers and guys that do the work. Particularly the wellsite geologists. (They're strange folk... I know from experience). I'd take a geo's views on drill rigs with a grain of salt unless it's been past a driller or two.
CTP Price at posting:
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