GlobalSantaFe reported that the company's worldwide summary of current offshore rig economics (SCORE) for April 2002 was down from the previous month's SCORE by 0.5%.
GSF President and CEO Sted Garber said, "The Gulf of Mexico SCORE hit its inflection point in April, reversing a 10-month downturn as dayrates responded to improving utilization for certain jackup rig classes. Elsewhere, while the offshore rig markets in Southeast Asia and West Africa remain moderately strong, there has been some mild erosion in jackup dayrates. We expect the dayrate declines in West Africa to abate as the Gulf rig market continues to tighten, decreasing the incentive for Gulf-based rigs to compete for work there."
The SCORE compares 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%, new contract dayrates equaled the sum of daily cash operating costs plus approximately $700 per day per million dollars invested.
Courtesy Beach Energy
Courtesy Zenith Energy
Rigs
Diamond drillship booked for BOE work in the GoM
July 19, 2024
Courtesy OKEA
ID 141192943 © 44Photography | Dreamstime.com
Courtesy Trillion Energy
