D.F. McNease: We are in a process of finalizing that. We had two more contracts and we should have those finalized by the end of next week. They will all be contracts just like they were with other third-party company.
Unidentified Analyst (Friedman, Billings, Ramsey): What would the guidance look like for LTI in 2008 after including the Rowan business?
William H. Wells: The Rowan revenue number for 2008 is in the $325 million range and so you are looking at a $1.2 billion plus including the Rowan business. The average margin on that business is about 15% to 20%.
Unidentified Analyst (Friedman, Billings, Ramsey): What was the asset sale during the quarter?
William H. Wells: We sold our Fuchun yard facility.
D.F. McNease: That''s part of that continuing downsizing process that we got going. We had Fuchun’s facility, we had Morgan City’s facility, we still got Sabine facility in the Telephone Road, Houston facility and so we are evaluating all of that and it could be some more sales coming.
Michael Drickamer (Morgan, Keegan & Company): Is there a number you have in mind for the rigs that will stay in Gulf of Mexico?
D.F. McNease: We hope to keep six to eight rigs in the Gulf of Mexico. Hopefully, most of those rigs would be focused on the ultra-deep drilling. We still see a tremendous amount of potential there. The people that we are working for see a tremendous amount of potential. We are excited about the ultra-deep drilling and so we will continue to focus on that with our equipment here in the Gulf of Mexico.
Michael Drickamer (Morgan, Keegan & Company): Are you looking at opportunities to sell any of the rigs?
D.F. McNease: We are always open to that. We will consider disposals as we have said in the past. The management is prepared to sell the two lower-end rigs being the GNO and the Anchorage. We expect to sell those this year or next year, as the new rigs come to the market place if the money is right.
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