"By the way $180k per day is absolutely over the top for a land based drill rig and I suspect most of that 180K per day can be attributed to Bakered screwing the pooch."
Rig day rate and spread rate are different things. Spread rate includes rig rate plus all your services, consumables, consultant day rates etc. On a global scale spread rates will usually be around twice your rig rate.
Ann: Securities Placement Capacity Update, page-97
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