Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (46364)	6/13/1999 11:41:00 AM
From: pz	Respond to of 95453

June 11, 1999 Gulf of Mexico rig count increases; new rigs join drilling fleet HOUSTON: The U.S. Gulf of Mexico rig count increased since last week, continuing an upward trend that began in April, according to Offshore Data Services' weekly mobile offshore rig count. The two-rig increase in the U.S. Gulf offshore rig count since last week boosted the count to 122, its highest level since February. The Gulf rig count had fallen as low as 107 in April. In addition to the two-rig increase in the contracted rig count, one new rig joined the Gulf of Mexico fleet and another moved into the area. The U.S. Gulf rig fleet now numbers 182 rigs, and fleet utilization is 67.0 percent. The European offshore rig count is unchanged from last week. With 86 of the region's 100 mobile offshore drilling rigs under contract, European offshore rig utilization is 78.2 percent. Worldwide, 458 mobile offshore drilling rigs are under contract, a net two-rig increase since last week. Three new rigs joined the world fleet, the result of new construction programs that began over a year ago when rig demand was high. The three new offshore rigs include a deepwater semisubmersible for Gulf of Mexico work, a deepwater drillship that will work offshore West Africa and a drilling barge that will work in shallow water in Venezuela. The worldwide drilling fleet now numbers 623 rigs. Worldwide offshore drilling fleet utilization is 73.5 percent.