Deepwater Horizon Drilling Rig Caught Fire
You may have heard the news in the last two days about the Deepwater Horizon drilling rig which caught fire, burned for two days, then
sank in 5,000 ft of water in the Gulf of Mexico. There are still 11 men missing, and they are not expected to be found.
The rig belongs to Transocean, the world's biggest offshore drilling contractor. The rig was originally contracted through the year 2013 to
BP and was working on BP's Macondo exploration well when the fire broke out. The rig costs about $500,000 per day to contract. The full
drilling spread, with helicopters and support vessels and other services, will cost closer to $1,000,000 per day to operate in the course of
drilling for oil and gas. The rig cost about $350,000,000 to build in 2001 and would cost at least double that to replace today.
sank in 5,000 ft of water in the Gulf of Mexico. There are still 11 men missing, and they are not expected to be found.
The rig belongs to Transocean, the world's biggest offshore drilling contractor. The rig was originally contracted through the year 2013 to
BP and was working on BP's Macondo exploration well when the fire broke out. The rig costs about $500,000 per day to contract. The full
drilling spread, with helicopters and support vessels and other services, will cost closer to $1,000,000 per day to operate in the course of
drilling for oil and gas. The rig cost about $350,000,000 to build in 2001 and would cost at least double that to replace today.
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