Hi guys, this was a debate we had some time ago as I remember...

Hi guys, this was a debate we had some time ago as I remember posting some cheap rig rates from Rigzone at the time on 6th generation deepwater drillships. Whisky was involved in the conversation.

From memory, we have been given discounted rig rates on a 7th generation ship. Discounted based on Conoco's original contractual rates and its unlikely we'll get further discount rates on the original 3 well program.

Since then rig rates have fallen further and I've read an example where one company has renegotiated mid contact for better rates.

It comes down to whether Connoco wants to renegotiate for drills 4-6 and onwards. That would depend on how much a saving they could make vs potential disruption to operations. if they cancel the contract and get a different drillship there could be lost efficiencies etc.

Regardless, Connoco will try to do whatever is best for Connoco but CNE is still majority holder for now. You would think they have the final say.