Tight, stressed market leads to higher day rates, more newbuild contracts

05/16/2005
The drilling market is increasingly robust with an ever-increasing demand for rigs from a fleet of relatively fixed-size. Utilization is high, with some room for improvement among certain rig types and in some markets. Operators will need to be flexible and creative in order to accomplish their drilling goals under deadlines imposed by lease agreements.North American marketUS oil and gas drilling activities are at a 19-year high. In April 2005, 1,325 rigs were operating compared with 1,161 in April 2004. In spite of skyrocketing profits, according to Economic & Technical Consultants Inc., the growth in capital spending in 2005 will be slower than in 2004.1North American land-rig drill...
read-story

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.

 

Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected