Offshore Sector SCORE Remains Flat

Wednesday, February 20, 2002
GlobalSantaFe reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for January 2002 was down from the previous month's SCORE by 0.2 percent. GlobalSantaFe President and CEO Sted Garber said, "Worldwide SCORE showed little change from the previous month. Rig supply and demand remain in balance in the key international markets and dayrates show signs of leveling out in the Gulf of Mexico. However, despite increasing drilling activity internationally, excess rig capacity in the Gulf of Mexico could result in near-term dayrate softness in West Africa as rigs in this region may end up competing with rigs mobilizing from the Gulf." 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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

VesselValue.com: $28.4B Worth of Ships Delivered to Date

As the calendar now indicates we have passed the half year mark on 2016, VesselValue.com offers insight on the number and value of all the 2016 built vessels that

MOL Signs Long-Term Charter with Uruguayan JV for FSRU

Japanese shipping company Mitsui O.S.K. Lines, has, through its wholly-owned subsidiary Lakler S.A., agreed to conclude a charter contract with Gas Sayago, for

Migrants Survivors Tell of Struggle at Sea

The bodies of 21 women and one man were brought ashore to Sicily on Friday as fellow migrants described scenes of panic and violence when water poured into their dinghy.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.0666 sec (15 req/sec)