great post here about the RIGS we're refurbishing
great post here about the RIGS we're refurbishing >
Company expects to sell each of the 1500 HP Rigs within 6 months of purchase, each at a base case of $8.5mm as well as to sell each of the 2000 HP Rigs within 6 months of purchase, each at a base case of $13.75mm.
Yes so i can shed a little light on what the difference is between the two rig classes. The 2000 HP rigs refer to CAT (Caterpillar) 2000 horse power generators built onto the rigs themselves. There are 2 mud pumps on each rig, meaning each rig gets two of these generators powering these massive chewing pigs. When i was at the yard there must have been 5 or 6 of these mud pumps on-site. You guys can refer to my photos.
And then the 1500's refer to a smaller class with 2 1500 horse power generators. Remember absolutely everything needed on an oil site has to be trucked in including electric as they are remote. They even have to build dirt roads (the first thing) in order to get the equipment in.
The refurbing process includes initial inspection, deck replacement, structural integrity testing including replacing all rivets and joints, pipe upgrades, total electrical line replacement, and massive welding work. Hundreds of welders will need to be hired.
To meet the current massive demand in the Middle East, rigs are being brought in from areas as far away as India. The rigs have typically deteriorated from heat and humidity, and can need hundreds of tons of steel replacement. My guess is our Dubai yard is gonna get real busy real fast.
Each rig job is custom to the customer's specifications so each job is priced individually depending on the features desired. When last i was there my friend said two years earlier they refurbed a monster rig that was shipped to Russia. It was a $21 million job that included a complete buildout of the control operator's bridge (where he sits), including all new computers, pneumatics, and electrical. He said at one point they had 50 welders working on this beast.
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