Offshore drilling rig It might not be a great time to start offshore drilling, with oil prices as depressed as they are, but it might just be a great time to buy an offshore drilling rig for a cut-rate price—in fact, you might be able to get one for only one tenth of what they cost in 2011. This is the cost coup recently pulled off by Ocean Rig , a company controlled by shipping billionaire George Economou, who has landed a drillship—the Cerrado—for only US$65 million at auction, which represents less than 10 percent of the estimated price when it was built over six years ago. It’s only to be expected that the slump in oil and gas prices would spread to all parts of the industry, but until now, offshore drilling tended to get less specific attention. That may be changing. Related: Global Rig Count Continues To […]