News End-User News Ultra-Deepwater Drilling For Oil, Gas Defies Recession
Ultra-Deepwater Drilling For Oil, Gas Defies Recession
Monday, 01 March 2010 15:55
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The economic recession has been hard on many oilfield- service providers as pinched oil and gas producers have cut back on drilling, but the ultra-deepwater drilling segment has been profitable throughout and is likely to remain so.

Transocean Ltd., the largest offshore drilling rig contractor, saw its revenue from ultra-deepwater drilling jump 32% to $890 million during the fourth quarter from the same period last year.

Source: Dow Jones

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