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Because they are very expensive to build/buy or runMaintenance...

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Kangaroos67

3,142 Posts.

1041

22/03/23

18:19

Post #: 66906675
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Originally posted by Goldfinger99: ↑

Really dumb question and others can please correct me.

One of the hold ups in drilling holes in the Perth basin would appear to be the booking of the drilling rig. I understand you need approvals first.

If in fact a reason for the major time delay is the availability of a drilling rig, why do we not just buy or build one. We have lots of holes we want to drill, I assume so do others. I know strike does. If we are not using it we could surely rent it out. When we are finished with it we could sell it.

It just appears to me there is a very long wait until we can drill a hole.

Please correct me !!!

thanks

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Because they are very expensive to build/buy or run
Maintenance and manning is expensive as is compliance
This is why a PB deap well is around~20 million to drill, atleast 1/2 that cost is rig servicing
Even Santos or Woodside dont own any rigs

TPD Price at posting: 14.0¢ Sentiment: Buy Disclosure: Held
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