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

To: Gary Burton who wrote (56619)	12/10/1999 12:54:00 AM
From: upanddown	Read Replies (1) \| Respond to of 95453

This excerpt from the RIGZONE newsletter gives a different picture of the GOM rig market than the standard utilization rate..currently close to 80% for rigs under contract(ODS) and 70% for rigs actually working(BHI). The Gulf of Mexico market remains strong with 88% of the competitive rigs under contract. There are now only 19 rigs idle including 5 shallow water workover jackups, 2 submersibles and 4 older semis. WEELKY RIG STATISTICS U.S. Gulf of Mexico Competitive Rigs Under Contract 147 U.S. Gulf of Mexico Competitive Rigs Idle 19 Current U.S. Gulf of Mexico Competitive Rig Utilization 88% These numbers eliminate rigs that are cold-stacked and not being marketed. If they are not available for contracts and have not been brought to ready status in this rapidly improving market, they are not part of the fleet and may never be made ready for use. Makes sense to me. Not much left but junk nobody wants. John