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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: GaAs52 who wrote (121413)	7/4/2009 9:10:23 AM
From: GaAs52	1 Recommendation Read Replies (1) of 206114

Wreckage in the jack-up market gets worse. From rigzone, Total Jack-up fleet: 447 + 59 under construction 281 drilling. 74 ready-stacked. 38 cold stacked. Only 13 drilling in US GOM. On June 4, 2009: Total Jack-up fleet: 446 + 61 under construction 299 drilling. 67 ready-stacked. 30 cold stacked. This is really ugly market. The jack-up operators also missed the shale gas boom, which practically killed GOM J-up market. We all talk about what happens to oil prices if a supplier e.g. Iran or etc shuts down. What happens to oil prices if a major consumer US or China shuts down. What happened in J-up market is not much different.

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