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Maersk Drilling to Spend Much as $6 Billion on Oil Rigs

Bloomberg -- Maersk Drilling, the oil-rig operating unit of Denmark’s largest company, plans to spend $4 to $6 billion on new platforms, with the first of those orders being placed as early as this year.

The unit of A.P. Moeller-Maersk A/S plans to buy six to eight rigs to “expand into a more significant player,” Chief Executive Officer Claus V. Hemmingsen said in an interview yesterday in Beijing.

Maersk Drilling, which has about 3 percent of the offshore market, has expanded its fleet as part of a long-term target to increase its capacity by 50 percent. The company, based in Copenhagen, is already spending $3.8 billion to build six platforms, with deliveries expected as early as next year, according to Hemmingsen. The company may start placing additional orders at the end of 2012 or in 2013.

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Submitted Mar 19, 2012 By: Mudsprings

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zimowski Champion Author San Jose Posts:6,671 Points:1,584,465 Joined:Nov 2007	Message Posted: Mar 19, 2012 10:03:09 AM Ignore zimowski Report Abuse Let's hope this is a good bet.
bodu All-Star Author Vancouver Posts:911 Points:280,385 Joined:Mar 2009	Message Posted: Mar 19, 2012 10:02:48 AM Ignore bodu Report Abuse and?
bart_reed Champion Author Los Angeles Posts:3,974 Points:785,630 Joined:Mar 2011	Message Posted: Mar 19, 2012 10:01:33 AM Ignore bart_reed Report Abuse Another growth industry.
herndonks Champion Author Baltimore Posts:1,116 Points:211,685 Joined:Dec 2011	Message Posted: Mar 19, 2012 10:01:22 AM Ignore herndonks Report Abuse Good
CorvairHaven Champion Author Cleveland Posts:4,354 Points:1,453,940 Joined:Sep 2008	Message Posted: Mar 19, 2012 10:00:11 AM Ignore CorvairHaven Report Abuse How much will be outsourced to China?
2gjh Champion Author North Dakota Posts:3,174 Points:2,447,600 Joined:Nov 2003	Message Posted: Mar 19, 2012 9:59:06 AM Ignore 2gjh Report Abuse Cost of doing business
pumper9x9 All-Star Author Colorado Posts:660 Points:126,625 Joined:Jul 2010	Message Posted: Mar 19, 2012 9:57:15 AM Ignore pumper9x9 Report Abuse what would happen if someone would invest $4-$6 billion into alternative fuel sources, hyper efficent cars, or just drill for dry hot rocks and make electricity that way......
LQQKGAS Champion Author Phoenix Posts:2,669 Points:1,196,015 Joined:Oct 2009	Message Posted: Mar 19, 2012 9:57:12 AM Ignore LQQKGAS Report Abuse Profit !
BCM1 Champion Author Pennsylvania Posts:1,864 Points:782,995 Joined:Jun 2007	Message Posted: Mar 19, 2012 9:56:55 AM Ignore BCM1 Report Abuse Funny, if private companies are willing to invest that much in oil related infrastructure, why won't we. The government needs to get off the backs of the oil companies and open up the permits for exploration in the US.
ohthepain Champion Author Pennsylvania Posts:3,729 Points:862,500 Joined:May 2008	Message Posted: Mar 19, 2012 9:55:30 AM Ignore ohthepain Report Abuse mysub, was thinking the same thing!
twiper1 Champion Author San Diego Posts:7,832 Points:1,606,060 Joined:Oct 2008	Message Posted: Mar 19, 2012 9:55:29 AM Ignore twiper1 Report Abuse okay
kd5kpd Champion Author Texas Posts:3,736 Points:1,416,725 Joined:Apr 2006	Message Posted: Mar 19, 2012 9:53:50 AM Ignore kd5kpd Report Abuse What ever.
mysub Champion Author Las Vegas Posts:8,911 Points:2,330,465 Joined:Apr 2006	Message Posted: Mar 19, 2012 9:53:01 AM Ignore mysub Report Abuse Legend1500, did you get enough points today with your "K" ?
Hugo40 Champion Author Kentucky Posts:7,624 Points:1,617,005 Joined:Aug 2008	Message Posted: Mar 19, 2012 9:52:42 AM Ignore Hugo40 Report Abuse Sounds like they are preparing to make a lot of money.
TuanCanCook Champion Author Los Angeles Posts:12,117 Points:656,765 Joined:Jun 2011	Message Posted: Mar 19, 2012 9:52:36 AM Ignore TuanCanCook Report Abuse Takes money to make money...
madison8359 Champion Author Cleveland Posts:9,019 Points:1,593,295 Joined:Apr 2008	Message Posted: Mar 19, 2012 9:52:20 AM Ignore madison8359 Report Abuse I guess there is alot of demand for oil too bad the price is not dropping.
HockeyLady Champion Author New Jersey Posts:5,568 Points:2,105,520 Joined:Jun 2005	Message Posted: Mar 19, 2012 9:51:46 AM Ignore HockeyLady Report Abuse now all they need is places to put them
fukami Champion Author Pennsylvania Posts:1,615 Points:451,100 Joined:Apr 2011	Message Posted: Mar 19, 2012 9:51:15 AM Ignore fukami Report Abuse woo-hoo
INBwana Champion Author Indiana Posts:5,457 Points:695,985 Joined:Apr 2011	Message Posted: Mar 19, 2012 9:51:03 AM Ignore INBwana Report Abuse Great. Now all we need is more refineries.
ChristinaCricke Champion Author New Jersey Posts:3,742 Points:767,575 Joined:Mar 2011	Message Posted: Mar 19, 2012 9:50:57 AM Ignore ChristinaCricke Report Abuse You always have to spend to make money...........HELLO!
walkit1 Champion Author Memphis Posts:3,042 Points:1,306,105 Joined:Jan 2007	Message Posted: Mar 19, 2012 9:50:26 AM Ignore walkit1 Report Abuse I think legend 1500 after points , nothing but K!!!
BillHeatherL Champion Author Alberta Posts:7,643 Points:1,924,630 Joined:Apr 2007	Message Posted: Mar 19, 2012 9:50:24 AM Ignore BillHeatherL Report Abuse it takes a lot of money to make those big profits
Legend1500 All-Star Author Midland Odessa Posts:964 Points:568,425 Joined:Jun 2011	Message Posted: Mar 19, 2012 9:48:04 AM Ignore Legend1500 Report Abuse K
Hangnail309 Champion Author Manitoba Posts:6,024 Points:1,677,180 Joined:Aug 2006	Message Posted: Mar 19, 2012 9:46:53 AM Ignore Hangnail309 Report Abuse With the high oil prices I'll bet that they obviously want to see a return on their investment ...
Hunter114 Champion Author Chicago Posts:9,093 Points:1,449,735 Joined:Apr 2009	Message Posted: Mar 19, 2012 9:45:02 AM Ignore Hunter114 Report Abuse So someone is still investing in drilling.
carman11 Champion Author North Carolina Posts:3,337 Points:691,725 Joined:Jun 2011	Message Posted: Mar 19, 2012 9:44:55 AM Ignore carman11 Report Abuse Good news we need jobs and oil. Win Win
bell05 Champion Author Atlanta Posts:9,255 Points:1,875,860 Joined:Jun 2005	Message Posted: Mar 19, 2012 9:44:38 AM Ignore bell05 Report Abuse Yea, good point pmc3, but that's awful lot of money.
RobertSpratt Champion Author Virginia Beach Posts:4,835 Points:1,045,765 Joined:Jul 2007	Message Posted: Mar 19, 2012 9:44:01 AM Ignore RobertSpratt Report Abuse That will cost the comsumers
puinsai808 Champion Author Honolulu Posts:3,539 Points:726,355 Joined:May 2011	Message Posted: Mar 19, 2012 9:42:12 AM Ignore puinsai808 Report Abuse Good News.
pmc3 Champion Author Missouri Posts:3,599 Points:1,023,890 Joined:Mar 2010	Message Posted: Mar 19, 2012 9:40:37 AM Ignore pmc3 Report Abuse With the profits that the U.S. oil companies are making, they should start doing the same and start drilling more.. Get away from importing foreign oil!!!
platinum16434 Veteran Author Houston Posts:289 Points:121,545 Joined:Sep 2008	Message Posted: Mar 19, 2012 9:40:24 AM Ignore platinum16434 Report Abuse Hopefully something good comes out of this.
bjdorval Champion Author Quebec Posts:2,259 Points:1,134,930 Joined:Jul 2008	Message Posted: Mar 19, 2012 9:40:10 AM Ignore bjdorval Report Abuse Fox News has recently announced that some of these huge and ugly oil rigs will be appearing just off the coast of Newport Beach, CA, Jacksonville FLA and Charleston, SC as part of a Republican initiative to convince the President that the people really do want drilling.
ARCO Champion Author Pittsburgh Posts:2,348 Points:2,377,370 Joined:Sep 2005	Message Posted: Mar 19, 2012 9:40:06 AM Ignore ARCO Report Abuse THATS ALOT OF CASH
TAT36 Champion Author Florida Posts:6,799 Points:1,303,775 Joined:Sep 2009	Message Posted: Mar 19, 2012 9:39:56 AM Ignore TAT36 Report Abuse Lots of money. They have to make big money just to buy and operate the equipment. Not to speak of the permitting process they have to go through.
AC-302 Champion Author Los Angeles Posts:26,582 Points:2,902,095 Joined:Aug 2004	Message Posted: Mar 19, 2012 9:39:41 AM Ignore AC-302 Report Abuse I knew Maersk was a shipping company, but I had no idea they ran drilling platforms. I suppose it makes some sense as they're both marine vessels.
Garston Champion Author Maine Posts:2,421 Points:473,765 Joined:Jul 2011	Message Posted: Mar 19, 2012 9:39:32 AM Ignore Garston Report Abuse Pig Oil and their co-conspiritors.
kzza100 Champion Author New Jersey Posts:1,948 Points:574,445 Joined:Sep 2011	Message Posted: Mar 19, 2012 9:39:25 AM Ignore kzza100 Report Abuse ok
vamike Champion Author Virginia Posts:5,325 Points:1,364,950 Joined:Dec 2008	Message Posted: Mar 19, 2012 9:38:44 AM Ignore vamike Report Abuse Good for them.
paty2k Champion Author Florida Posts:1,603 Points:275,060 Joined:Jul 2011	Message Posted: Mar 19, 2012 9:37:43 AM Ignore paty2k Report Abuse More supply makes for lower prices
SnickersDog Champion Author Denver Posts:3,283 Points:680,985 Joined:Feb 2011	Message Posted: Mar 19, 2012 9:37:00 AM Ignore SnickersDog Report Abuse There is annual maintenance to do.
Harry813 Champion Author Iowa Posts:3,005 Points:661,865 Joined:Jul 2011	Message Posted: Mar 19, 2012 9:36:11 AM Ignore Harry813 Report Abuse Hmmm, I think we know who is making the $$$$
techque Champion Author St. Louis Posts:8,655 Points:2,419,630 Joined:Apr 2005	Message Posted: Mar 19, 2012 9:35:49 AM Ignore techque Report Abuse ? North Sea drillers ?
ILikeToSave Sophomore Author Texas Posts:138 Points:382,440 Joined:Jun 2006	Message Posted: Mar 19, 2012 9:35:47 AM Ignore ILikeToSave Report Abuse Ok.
randog Champion Author Detroit Posts:7,199 Points:1,294,140 Joined:Aug 2005	Message Posted: Mar 19, 2012 9:34:36 AM Ignore randog Report Abuse Refineries will shut down periodically no matter how many there are.
DrCashFlow Champion Author Massachusetts Posts:7,064 Points:1,627,125 Joined:Jun 2008	Message Posted: Mar 19, 2012 9:33:03 AM Ignore DrCashFlow Report Abuse Can't fall behind
dopster Champion Author Toledo Posts:7,275 Points:2,292,250 Joined:Aug 2004	Message Posted: Mar 19, 2012 9:32:36 AM Ignore dopster Report Abuse They have the money, they should invest their money!
buzzieNY Champion Author Buffalo Posts:2,893 Points:635,555 Joined:Jun 2011	Message Posted: Mar 19, 2012 9:31:51 AM Ignore buzzieNY Report Abuse Interesting.
ModelWarships Champion Author Missouri Posts:5,795 Points:1,232,085 Joined:Jul 2008	Message Posted: Mar 19, 2012 9:29:25 AM Ignore ModelWarships Report Abuse good point Mike
IrishCowboy Champion Author Fort Wayne Posts:1,431 Points:572,380 Joined:Jan 2011	Message Posted: Mar 19, 2012 9:29:13 AM Ignore IrishCowboy Report Abuse Anyone who thinks oil isn't big money....read.
putz247 Champion Author Ohio Posts:2,281 Points:512,780 Joined:Aug 2011	Message Posted: Mar 19, 2012 9:29:00 AM Ignore putz247 Report Abuse wow
mikesr11 Champion Author New York City Posts:3,501 Points:680,215 Joined:Mar 2011	Message Posted: Mar 19, 2012 9:28:03 AM Ignore mikesr11 Report Abuse IT'S STILL CHEAPER THAN THE PLATFORM OBAMA AND HIS CRONIES STAND ON!