galoc nth too deep for patriot, page-11

Interesting that one comment was "..not capable of drilling some of the optimal well locations.."

I would've thought they would only drill one exploration well!

Oh yes, next comment reads "..we look forward to progressing drilling of a Galoc exploration well at the preferred drilling location as soon as a suitable rig can be secured.."

Seems the Patriot was probably locked in before the preferred drill site on the target was selected/changed.

Don't worry too much about extra mob charges etc with having to get another rig to do the job.
Not being privy to the contract, I'm not sure what the contract cancellation liability would have been with DOD on the Patriot, but Conoco Phillips recently had to pay Noble $18M for contract cancellation of a newbuild J/U!
ConocoPhillips Pays $18 Mln for Cancellation of Drilling Contract