GlobalSantaFe
worldwide SCORE continues decline
Posted: 17 May 2004
Worldwide oil and gas drilling contractor GlobalSantaFe Corporation
reported that the company's worldwide SCORE, or Summary of Current
Offshore Rig Economics, for April 2004 was down 4.5 per cent from
the previous month's SCORE.
GlobalSantaFe's SCORE compares the profitability of current mobile
offshore drilling rig dayrates to the profitability of dayrates
at the 1980- 1981 peak of the offshore drilling cycle.
In the 1980-1981 period, when SCORE averaged 100 percent, new contract
dayrates equaled the sum of daily cash operating costs plus approximately
$700 per day per million dollars invested.
In addition to a worldwide SCORE covering key types of competitive
offshore drilling rigs in key drilling markets, a separate SCORE
is calculated for certain types of rigs and certain regions to indicate
the relative condition of rig markets.
The release, which is made available for publication on the third
Monday of each month, includes separate SCORE calculations for the
U.S. Gulf of Mexico, the North Sea, West Africa and Southeast Asia.
GlobalSantaFe is a leading worldwide oil and gas drilling contractor
offering a full range of premium equipment and drilling management
services.
The company's diverse and technologically advanced fleet of 59
offshore rigs includes premium and heavy duty harsh environment
jackups; semisubmersibles; and dynamically positioned ultra-deepwater
drillships.
Additionally, the company has three rigs under construction. The
company also has 31 land rigs and is the world's leading provider
of turnkey drilling and drilling management services.
For more information see www.gsfdrill.com
Posted by Richard Price,
Editor Pipeline Magazine
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