Seeking Alpha

GE secures order for new generation of deepwater drilling systems

  • Maersk Drilling is turning to GE to build a new generation of deep-water blowout preventers designed to handle the highest reservoir pressures the industry has ever tackled.
  • The Danish rig contractor says it has ordered four blowout preventers and two risers from GE Oil & Gas, equipment planned for deployment to the Gulf of Mexico and elsewhere by the end of 2018.
  • The order is the latest step in Maersk and BP’s joint plan to develop new drilling rigs and other offshore technology able to traverse deeper waters and dig into unreachable reservoirs that hold 10B-20B barrels of oil and gas.
  • Press release
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs