Stocks that Float: TANKERS & DRY BULK SHIPPERS

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Drilling is still thrilling! World fleet utilization 90.3%.

DS-Petrodata's Weekly Mobile Offshore Rig Count

Filed from Houston 5/30/2008 7:47:50 PM GMT

Jackup delivery enhances worldwide offshore rig fleet

HOUSTON: The worldwide offshore rig count rose by two this week thanks to new jackup contracts, while a newbuild jackup delivery expanded the total worldwide offshore rig fleet size by one.

This week, 623 of the world's 690 mobile offshore drilling units are under contract, and worldwide offshore rig fleet utilization is 90.3 percent.

The worldwide offshore rig fleet grew with Keppel FELS Ltd.'s delivery this week of newbuild jackup West Ariel to Seadrill Ltd. The rig will begin a contract next month offshore Thailand with PTTEP.

The U.S. Gulf of Mexico contracted offshore rig count is unchanged this week, while total available offshore fleet size increased by one. With 104 rigs out of 125 available under contract, U.S. Gulf fleet utilization stands at 83.2 percent.

No change was recorded this week in the South American offshore rig count. With 70 rigs out of 94 available under contract, fleet utilization remains 74.5 percent.

All 99 mobile offshore drilling units in the European/Mediterranean region still remain under contract. European offshore rig fleet utilization is 100.0 percent.

In West Africa, the offshore rig fleet size and number of rigs under contract are unchanged. With 57 rigs out of 59 available under contract, utilization remains at 96.6 percent.

In the Asia/Australia region, total offshore fleet size and number of contracted rigs grew by one each. With 103 out of 106 available offshore rigs under contract, fleet utilization in the region is 97.2 percent.

For additional information, contact: Karen Boman, at 832-463-3000, email [e-mail].



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