GlobalSantaFe's SCORE Up for December

Monday, January 20, 2003
Worldwide oil and gas drilling contractor GlobalSantaFe Corporation today reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for December 2002 was down from the previous month's SCORE by 2.9 percent. GlobalSantaFe chief operating officer, Jon Marshall, said today at the company's annual SCORE press conference: "Though worldwide SCORE improved in December 2002, continued softness in the U.S. Gulf of Mexico drilling market and semisubmersibles rigs worldwide left SCORE near the year's lowest level. In the U.S. gulf, depressed drilling activity is having an impact on natural gas inventory levels, pushing prices higher. These conditions make a drilling rebound in this market inevitable."

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 January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Maritime Security

Training Coastguards is Key to Tackling Piracy

Training and mentoring of coastguards in Africa, Middle East and South East Asia is essential if coastal nations are to have effective control over their Territorial Waters and Economic Zones,

Libya Forces Tanker Away from Supplying Rival Government

Libya's recognized government said it forced a tanker from delivering fuel to its rival administration, diverting the vessel to its own territory by threatening an air attack on it.

Seagull Secures Panama Flag Approval

Seagull Maritime said it has secured training center approval from the Panama Maritime Authority, marking the first time that an overseas company has done so following

 
 
Maritime Standards Navigation Pipelines Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
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: 0.0996 sec (10 req/sec)