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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Lois R who wrote (14813)3/14/1998 7:58:00 AM
From: Teddy  Read Replies (2) of 95453
 
Lois, that is a great report. Thanks. Here's my news contributions for the day:

HOUSTON/INTERNATIONAL: Offshore rig counts are not being impacted by soft oil prices, according to Offshore
Data Services' most recent weekly mobile offshore rig count.

In the U.S. Gulf of Mexico, the contracted rig count is unchanged from last week at 171. One rig moved into the area causing
a slight decline in fleet utilization. This week, the Gulf rig fleet now numbers 176 total rigs; with 171 under contract, utilization
is 97.2 percent.

The European offshore rig count increased by one rig compared to last week. This week, 106 of the 110 mobile offshore
drilling rigs in the area are under contract. European offshore rig fleet utilization is 96.4 percent.

The worldwide rig count recorded no net change week-to-week, the one-rig increase in activity offshore Europe being offset
by a one-rig decline in another area. This week, 586 of the world's 610 mobile offshore drilling rigs remain under contract,
and worldwide offshore rig utilization continues at 96.1 percent.

UK: Two development wells will be drilled in Premier Oil's Chestnut field in UK Block 22/2A. The program is contingent
on Premier lining up a semi for the program. (Teddy's question: does this mean the demand for semis is so high they might not be able to find one? Dayrates should stay high.)
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