Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: upanddown who wrote (53629)	10/27/1999 6:01:00 PM
From: Big Dog	Read Replies (2) of 95453

You are exactly right. And this is typical. Consider if you are an oil company that has the option to charter a 300-ft. jackup at about the same price as a 150-ft., older jackup. Which one you gonna take? The "good stuff" goes first. Only as rig demand increases does the fleet usage begin to rationalize with regards to rig capacities. So yes, the rig demand picture must be viewed within each rig class. If all rigs capable of drilling in 300-ft of water are working, but 20 rigs able to drill in 100 feet of water are available, then the rig utilization for an oil company with a well to drill in 300-ft. is 100%...and day rates for that class of rig will rise. As is happening. The rigzone site is excellent. I wish I had the time to create such a site...(I could do it better, of course. For my uses it lacks functionality and detail...but then it's free! Offshore Data Services charges about $400 per year for just about the same info - in print form though, albeit slightly more detailed...) big atoffshore.com

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