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: Big Dog who wrote (72272)	9/4/2000 8:37:41 PM
From: Second_Titan	Respond to of 95453

RIG/FLC commented on in the Bassoe Nothsea report. Seems MMS maybe more of a price taker to Rigs price maker position. Northwest Europe Dayrate Analysis: August 2000 Semi-submersible fixtures The Glomar Arctic III is the first long-stacked semi to secure a job in the UK sector this year and not surprisingly it has taken a long-term job to justify breaking lay-up. ExxonMobil has fixed the unit for a from programme lasting about 500 days plus five one-well options. The Global semi has been stacked in the Cromarty Firth since August 1999 and is due to go back to work with ExxonMobil at the beginning of October. Meanwhile rates are firming for programmes beginning from the second quarter of 2001 but contractors are still faced with bridging the slack period over the Winter so that short-term rates will do well to hold the current range for the next few months. Next year the dominant market position of a merged Transocean Sedco Forex/R&B Falcon, with 52% of the UK fleet, will likely impact semi availability and dayrates. The next largest semi contractor has just 11% of the UK fleet. The new giant will have a near stranglehold on UK west of Shetland and deepwater rigs. TSF will also have a strong controlling lever on standard semi availability and rates. As demand rises next year it will be able to withhold up to three second generation semis which have been stacked for some time ensuring availability of hot semis remains at a premium.