First, the ticker symbols for two companies mentioned in that post:
HP makes the FlexRig. This is quite an incredible story, August, 2007:
- A decade ago, Helmerich & Payne Inc. took a chance on a ground-up rig design based on a simple premise -- that an efficient and safe drilling rig would create value for its customers.
- H&P began designing what the company calls a FlexRig, a computerized drilling unit that allows the operator to punch a hole in the ground and move quickly between drilling locations.
- "We were highly criticized," Juan Pablo Tardio, a company spokesman, said of the early FlexRigs. "But no one had seen the efficiency we were able to achieve."
- The Tulsa-based contract drilling company built the first 50 FlexRigs on speculation and a belief that the industry needed a rig that could reach shallow targets between depths of 8,000 and 18,000 feet.
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