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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Chuzzlewit who wrote (15796)3/21/1998 2:22:00 PM
From: Teddy  Read Replies (1) of 95453
 
Rig Count

HOUSTON: The number of mobile offshore drilling units under contract worldwide declined by one due to a semi coming off contract in the U.S. Gulf of Mexico, according to Offshore Data Services' weekly mobile offshore rig count.

The number of rigs under contract in the U.S. Gulf now stands at 170. The 176-rig Gulf drilling fleet's utilization is 96.6 percent.

Rig counts offshore Europe remain unchanged. One hundred six of the region's 110 mobile offshore drilling units are under contract and utilization is 96.4 percent.

The one-rig decline in the U.S. Gulf pushed worldwide utilization down to 95.9 percent. FPS LAFITTE PINCAY went to shipyard and will return to service in 30 days. Currently, 585 of the world's 610 drilling rigs are under contract.

Wow Paul, I guess the rumors are true: Dayrates and dropping and rigs are being stacked. These guys sound scared<G>

"We don't want to make anybody madder than we have to. But to give away rig time
-- no thank you," said David Herasimchuk, vice president of market development for
Global Marine.

"We've got people waiting in line to take our rigs," said Edward Thiele, treasurer of Houston-based Rowan.

Oil services companies endured years of low rates and now say the prices they charge oil companies are justified by tight supply and soaring demand.
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