Question-and-Answer Session
Operator
(Operator Instructions) Our first question comes from Byron Pope with Tudor Pickering Holt. Please go ahead with your question.
Byron Pope - Tudor Pickering Holt
Good morning, guys.
David Williams
Good morning.
Byron Pope - Tudor Pickering Holt
Just wanted to touch base on the Globetrotter options. If I remember correctly, you had those options that expired at various time intervals. And at this point, is there just the one option that was 150 days from the initial date that remains left?
David Williams
No. During the fourth quarter, as you correctly point out, the options were coming up at the end of last year. During the fourth quarter, we went back to the principal vendors, the shipyard enhancements on those deals were able to renegotiate option allowances and in some cases some price variances.
So actually the options for two, three and four are less expensive than they were previously, and we have really up until March on the first option to deal with it, and I think the shipyards will give us latitude. They are very interested in whether or not to go forward with that program. So I think we have continued latitude beyond actually March, hopefully.
Byron Pope - Tudor Pickering Holt
Okay. And so you referenced these are kind of lower costs and so that's where you get kind of the mid to upper 500s that you referenced in your prepared comments?
David Williams
The first one is 585. We've announced that, that's fully loaded. We've committed to build that ship. We're going to build it. And unless the yard is very efficient and our start-up process is very efficient, its going to be right around 585.
The next rigs will be closer to the mid 500s, 545 to 550 or so, and in that range. And again, those numbers are fully loaded. That guts, feathers and all it's crew costs, it's crew development costs, it's training, it's moving the rig, it's [Swedish payers], it's start-up cost, it's everything, capitalized interest thrown in that number.
Byron Pope - Tudor Pickering Holt
Okay. And then just one quick related follow-up, if I could. Just thoughts on from a timing perspective on the reincorporation to Switzerland to the extent that you can say?
David Williams
As it sits now, we are still looking for a March date. It's really in the hands of the SEC right now. They are reviewing the proxy, and depending on what their timing is we'll kind of run our timing, but right now we are still on track - sometime within the first quarter is what we are hoping.
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