Latin American drilling activity swells in past year

Latin American drilling activity has increased 20% since spring 2003, and global rig counts have reached multi-year highs.There were 285 rigs working in Latin America in April 2004, up 7 from March, according to Baker Hughes International (BHI) monthly rig count. This is a 20% increase from the 238 rigs working in April 2003. Click here to enlarge imageOffshore rigs increased to 72 in April 2004, with activity off six countries. Mexico leads the group with 38 rigs offshore, followed by Brazil (15), Venezuela (13), Trinidad (4), Ecuador, and Peru (1 each). Overall Latin American offshore rig activity is up 41% since April 2003, when only 51 rigs were working off four countries (Table 1). ...

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