OILRIGS. Baker Hughes keeps a weekly record of the drilling rigs in use in USA and Canada, and publishes it on Fridays. A more detailed report can be seen on their website, but nowadays you have to register to get it. To those interested in oil drilling it is a very usefull information.
Deep sea drillers (RIG NE PDE DO RDC GSF) make money now. Long contracts (3-4 years)for semisubmersibles at enormous prices $400.000 - $550.000 per day (a couple of years ago it was a sensation to get $150.000/day for a subsemi). Newest contracts for jack-ups $175.000 - $200.000/day (used to be ca $50.000).
Competition for deep sea drillers is heating up. Norwegian drillers (Smedvik, Stolt Offshore, Awilco, FOE, Seadrill) have been very active in Asia, Africa and the Arctic regions.
Land drillers (NBR PTEN RDC PDC) have been complaining about overcapacity, especially in Canada. It seems though that Canada is cheering up. Oil sands explorers keep adding rigs, and drilling for natural gas is expanding.
Follow the sector and crab the possible dibs.
Oil and Gas Rig Count Rises
Friday November 2, 2:28 pm ET
U.S. Weekly Oil and Gas Rig Count Up 35
HOUSTON (AP) -- The number of rigs actively exploring for oil and natural gas in the United States rose this week by 35 to 1,795.
Of the rigs running nationwide, 1,455 were exploring for natural gas and 335 for oil, Houston-based Baker Hughes Inc. reported Friday. Five were listed as miscellaneous.
A year ago, the rig count stood at 1,739.
Of the major oil- and gas-producing states, Texas gained 26 rigs, Louisiana nine, Oklahoma five, Colorado four, Wyoming three and Alaska one. New Mexico lost five rigs.
Baker Hughes has tracked rig counts since 1944. The tally peaked at 4,530 in 1981, during the height of the oil boom. The industry posted several record lows in 1999, bottoming out at 488.
AI
