GlobalSantaFe's Worldwide Semisubmersible SCORE Reaches 18-Month Low

Tuesday, October 15, 2002
Worldwide oil and gas drilling contractor GlobalSantaFe Corporation has reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for September 2002 was down from the previous month's SCORE by 1.4 percent. GlobalSantaFe President and CEO Sted Garber said, "The Gulf of Mexico SCORE reversed from last month's dip. New, higher semisubmersible dayrates contributed to the area's improvement in September. The weakening North Sea semisubmersible market overshadowed the Gulf's gains, however, bringing the SCORE for worldwide semisubmersible drilling rigs to its lowest point in 18 months." 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. Rig types include jackup and semisubmersible rigs.

Navy

USS Freedom Suffers Casualty

The U.S. Navy's first littoral combat ship USS Freedom (LCS 1) experienced a casualty to one of its main propulsion diesel engines (MPDE) on July 11 reportedly

Michelle Obama Sponsors Attack Submarine

General Dynamics Electric Boat has delivered to the U.S. Navy an attack submarine that is sponsored by first lady Michelle Obama and will be named for her home state, reports AP.

Indian Warships Visit Port Victoria

In a demonstration of India’s commitment to its ties with Seychelles and maritime security in the Indian Ocean Region, Indian Naval Ships Kolkata, Trikand and

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0643 sec (16 req/sec)