Drilling planned for North Africa, India, and Mexico

12/15/2003
Rig markets are showing only slight changes, but the initiation of new international projects suggests an upward swing.Executives from oil services companies weighed in at the Banc of America Securities 2003 Energy and Power Conference last month. There was increased emphasis on developing new commercially viable and sophisticated technologies.Jay Swent, the new CFO at Dallas-based Ensco International Inc., reiterated the rig upgrade and enhancement program as the best use of its capital. The company is nearly finished upgrading its international jack ups and is now focusing on the Gulf of Mexico fleet. Ensco has spent $625 million on rig upgrades since the mid-1990s.Ensco's average j...
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