Trico Marine Services (TMAR) Message Board

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Gold/Mining/Energy : Trico Marine Services (TMAR)

TMAR 22.41

0.0%

Nov 7 9:30 AM EST

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To: JZGalt who wrote (716)	8/24/1998 6:33:00 PM
From: D.J.Smyth	of 1153

according to TDW there are approximately 300 supply boats total in the gulf servicing, right now, about 110 total off shore rigs (difference bw 129 and 110 would be "inland water" rigs which are not necessarily serviced by the larger supply boats). TDW has 45% of the gulf market, other competitors the remainder. You generally figure two boats per rig, or 220 boats needed to service 110 rigs. There are other boats used for cable laying, custruction and oil and gas development which are not included in the two boats per rig count. Total utilization of supply boats in the gulf remains at 75% if you count all boats per rigs. Not counting boats on drydock, utilization goes over 85%. most of the new boats scheduled for release to the gulf have been mothballed and/or are looking for other contracts elsewhere. those remaining already have conracts. rig count in the gulf is running at a bear covering. further significant (10% or more) drops are very unlikely according to the newletters.

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