The selected drilling system is based on hybrid slimbore technology which as the best application to the exploration and appraisal of deepwater reservoirs. However, the system will also allow the Q4000 to drill completeable wells out to 6,000 fsw.
Owen Kratz, Chairman and Chief Executive Officer, stated, "This is an important strategic move for Cal Dive because not only does it improve the quantity and mix of high dayrate work available to the Q4000, it also allows us to use the vessel as another tool to secure working interest positions, and even operator status, on select deepwater projects. Prior to the vessel being ready to enter the drilling market we will be active in further building a portfolio of suitable prospects."
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