Seadrill exercises option for new drillship

Looks like another one for Seadrill.

HOLY MOTHER!..will this never end? Where on earth are all these new ships going to work at? Are their that many backlogged wells?

In any event, I notice that the price of a new drillship at Samsung is falling. Recently, the price was $660M for a turkey ship but Seadrill’s option was for $600M. That’s a big drop but if Samsung can make a profit at the lower cost, it shows how efficient and experienced that they are at building these vessels. A true ship factory if there ever was one.

I wonder if they learned their lesson about STX engines?