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

To: upanddown who wrote (42938)	4/22/1999 3:19:00 AM
From: upanddown	Read Replies (2) \| Respond to of 95453

Rig count info gleaned from Oil Patch Weekly from Smith Barney... Things are getting a little better. Next week should be interesting. Oil Patch Weekly—April 20, 1999 12 Offshore Data Services Offshore Data Services' worldwide count of offshore rigs under contract increased to 458 this week. The rig count increased by three in the Gulf of Mexico (111), increased by one in West Africa (27), increased by one in Asia/Australia (45), and was flat in Europe/Mediterranean (95). Year to year, rig count decreased by 58 in the Gulf of Mexico, by 11 in Europe/Mediterranean, by 16 in West Africa, and by 22 in the Asia/Australia region. Worldwide offshore rig utilization increased to 74.2%, 21.7 percentage points below year-ago levels. In the past week, rig utilization increased to 61.3% in the Gulf of Mexico (down from 96.0% last year), fell to 88.8% in Europe/Mediterranean (down from last year's 96.4%), increased to 62.8% in West Africa (versus 100% in the year-ago period), and increased to 63.4% in Asia/Australia (down from 93.1% in the year-ago period). Utilization by rig type stood as follows: jackups, 71.9%; semisubmersibles, 80.4%; drillships, 72.0%; submersibles, 0.09%; and barges, 89.6%. Baker Hughes Baker Hughes' count of rotary rigs drilling in the United States increased by one to 499 this week, 399 rigs (44.4%) below the year-ago level. Rigs drilling for natural gas decreased by seven to 369, 38.6% below the prior-year count of 601, while the number of rigs drilling for oil increased by eight to 130 (versus 294 last year). Among the major oil-producing states posting changes of three or more rigs, the rig count increased by three in California and decreased by three in Louisiana. The Canadian rig count decreased by 14 from the prior week's level to 54 rigs, 57 rigs (51.4%) below last year's level. The Oil Patch Weekly is now available via e-mail. If you are interested in receiving it electronically, please contact Mark Urness at mark.s.urness@ssmb.com. Weekly Rig Update The worldwide offshore rig utilization level increased to 74.2.%. The U.S. rig count increased to 499. The Canadian rig count decreased to 54.