HOUSTON -- Diamond Offshore Drilling and GE Oil & Gas have announced the offshore drilling industry's first-of-its-kind contractual service agreement (CSA) that transfers full accountability for BOP performance to GE Oil & Gas.
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Diamond' bucket is not the issue, the issue is to client forecast, loans, and stock option. Please never forget that GE Oil & Gas is about MONEY. I have never seen a 5 Billion dollar company still take on a loan just to cover it's business partnership with a company like Diamond which GE Oil & Gas can buy straight out. GE Money Manager are experts at one thing for sure! USING OTHER PEOPLE MONEY FOR A SECURE RISK INVESTMENT.
That's not entirely true. It is my understanding that 99 percent of the down time burden is still on the drilling contractor. The driller still risks lost of contract with the financier. The rig could lose work over system performance. The money is just coming out of a different bucket.
Is it PIP ?