GlobalSantaFe's Worldwide SCORE

Monday, January 21, 2002
Houston-based international offshore drilling contractor GlobalSantaFe reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for December 2001 was down from the previous month's SCORE by 1.7 percent. Looking back at 2001, GlobalSantaFe President and CEO Sted Garber said, "SCORE clearly reflects some of the key trends in the major offshore drilling markets over the year. While international drilling markets have benefited from increased activity by the majors, Gulf of Mexico drilling markets softened as highly cash-flow-sensitive independents responded to sharply declining natural gas prices." 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.
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

U.S. Drillers Cut Rigs to Lowest since August

Energy companies have reduced the number of rigs drilling for oil in the United States to the lowest since August, shifting more rigs in favor of natural gas as crude prices dive,

Arctic Oil: Bourbon to Enter Arctic Market in 2016

Bourbon plans to enter the growing Arctic Offshore market in 2016 with a new Anchor Handling Tug Supply (AHTS) vessel built by the Vard shipyard. This AHTS (Anchor

Total CEO: EU Must Fight US Crude Export Law

First major public appearance of new Total head; he challenges European politicians to fight US ban. The new head of French energy major Total challenged Europe to fight Washington over the U.

 
 
Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators 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: 0.1977 sec (5 req/sec)