Cold stacking deepwater rigs

[Kaliboo]

http://www.worldoil.com/news/2016/9/21/a...-precedent

The above article is well worth reading regarding ultra deepwater drilling rigs being "cold stacked" by TransOcean.  Completely shutting down (i.e,, cold stack) a $500 Mln machine is a very large risk.  Over the next months and years we will hear how this plays out for them.  In the mean time a ton of rigs are still being built.

If this goes bad, then there could be a terrible rig shortage some years down the road.

[Stavros]

All the Rig Builders and Rig Providers in Singapore are in deep SCHIST and starting to file for bankrupty.
All the building has stopped and a large number of finished Rigs are sitting idle

[Putncalls]

YEA! Who pics up the slack?
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