GlobalSantaFe's SCORE Declines

Tuesday, March 19, 2002
Houston-based international drilling contractor GlobalSantaFe reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for February 2002 was down from the previous month's SCORE by 1.1 percent. GlobalSantaFe President and CEO Sted Garber said, "Declines in the Gulf of Mexico SCORE have slowed considerably and the international SCORE remains near its highest level since early 1999. The improving U.S. economy, which has strengthened U.S. natural gas prices, bodes well for the outlook in the Gulf of Mexico jackup market -- the source of significant weakness over the last six to eight 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.
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Water-cooled WGM Motors From WEG

WEG, a supplier of drive technology, introduced its water-cooled WGM motors to the shipbuilding industry for the first time at SMM 2014. The WGM water-cooled induction motors are compact,

Henderson, Hanes & Associates Opens Doors in Miami

Ocean Engineering/ Naval Architecture Firm Brings Innovation to the Mega Yacht Community The Miami-based ocean engineering and naval architecture firm of Henderson & Associates, Inc.

Austal Launches Trenton (JHSV 5)

Second Joint High Speed Vessel to be launched at Austal in 2014 On September 30, 2014, Austal USA successfully completed the launch process of Trenton (JHSV

Offshore

Victaulic Debuts Delta-Y Assembly for Offshore

Victaulic  introduces the Style DLY Delta-Y assembly, a combination of preassembled Victaulic cast grooved fittings, rigid couplings and butterfly valves. The Delta-Y

MOL Merges Group Companies; Upgrades Bridge Simulator

MOL adds DPS and enhances safe operation by integrating expertise through merger Mitsui O.S.K. Lines, Ltd. (MOL) announced the merger of MOL Marine Consulting, Ltd.

Swire Pacific Acquires 3rd L Class PSV

Shipowner and operator, Swire Pacific Offshore Operations (Pte) Ltd (SPO) celebrated the naming and delivery of its third L Class PSV vessel, Pacific Legend in Kyoto,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1093 sec (9 req/sec)