GlobalSantaFe's SCORE Declines
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. 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.
SCORE Up for First Time in 10 Months
0.5 percent. classes. erosion in jackup dayrates. 1980-1981 peak of the offshore drilling cycle. million dollars invested. regions to indicate the relative condition of rig markets. month, includes separate SCORE calculations for the U.S. Mexico, the North Sea, West Africa and Southeast Asia. include jackup and semisubmersible rigs.
GLM's Industry SCORE Continues to Improve
Global Marine’s worldwide SCORE, or Summary of Current Offshore Rig Economics, for September 2000 increased 1.8 percent over the previous month. Global Marine Chairman, President and CEO Bob Rose said, “September marks the 13th consecutive month of improvement in the worldwide SCORE and the 15th consecutive month of improvement in the Gulf of Mexico SCORE. Global Marine’s SCORE compares the profitability of current mobile offshore drilling rig rates to the profitability of rates at the 1980-81 peak of the offshore drilling cycle, when speculative new rig construction was common. In the 1980-81 period, when Global Marine’s SCORE averaged 100 percent, new-contract dayrates equaled the sum of daily cash operating costs plus approximately $700 per day per million dollars invested.
GlobalSantaFe's Worldwide Semisubmersible SCORE Reaches 18-Month Low
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. 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…
GLM Score Up Despite Softening GOM
Global Marine's (GLM) Summary of Current Offshore Rig Economics (SCORE) rose 0.6 percent in June 2001, despite a reduction in the Gulf of Mexico. "Softening jackup rates due to declining natural gas prices have taken a toll on the Gulf of Mexico SCORE," said Bob Rose, GLM's chairman, president and CEO. "However, strong oil prices have continued to fuel improvement in international offshore rig markets."
Global Marine Announces December SCORE
Global Marine's Summary of Current Offshore Rig Economics (SCORE) for December 1999 increased 3.5 percent from a month earlier, with significant improvement of the rig markets in the Gulf of Mexico and West Africa, Chairman, President and CEO Robert Rose announced at a press conference. Global Marine's SCORE provides a single statistic for determining the health of the offshore drilling industry. It compares the profitability of current mobile offshore drilling rig rates to the profitability of rates at the 1980-81 peak of the offshore drilling cycle, when speculative new rig construction was common. In the 1980-81 period ? when Global Marine's SCORE averaged 100 percent ?
