my understanding is that the GT's are prinmarily designed as exploratory rigs. The pull backs woul be ok at shallow drills but not deep drilling for production holes.
Horses for courses and I think there are designs being made for new rigs that incorporate some of the gt functionality as well as being capable of drilling production wells.
So it all depends on the depth I think.
Mineral drilling no issue but oil/gas and GT production drilling is not what we are up to...yet, if my understanding is correct.
Nice market update from Bernie.
I am curious whether we will go for another GT3000 or GT5000 or one of each next year. I think they have a 12 month deadline from March to complete 2 new rigs in order to maintain exclusivity of the technology
Add to My Watchlist
What is My Watchlist?