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

To: BigBull who wrote (60372)	2/16/2000 8:41:00 AM
From: SargeK	Read Replies (3) \| Respond to of 95453

98% Utilization in Ultra Deepwater Rig Segment by Early 2000 Of the 58 rigs in the world able to drill in more than 5,000 ft of water, 98% will be under contract by the first quarter of 2000, according to a major study* by Bassoe Offshore Consultants. The study forecasts 36 rig years' worth of work next year with more than 20 operators in water depths of over 5,000 feet, rising to 45 rig years in 2001. This demand on its own, appears insufficient to keep the ultra deepwater fleet busy since the supply of units able to drill at these depths is set to increase from 39 to 58 over the next two years. However, known work programmes in 3,500 to 5,000 feet of water will keep the market tight by taking supply away from the deeper water market. bassoe.com Lots of room for Spin & Hype here!~ >vbg< SargeK