ReedHycalog: US fleet activity up 15% from 2004

According to the annual ReedHycalog rig census, utilization of the North American rig fleets increased substantially from 2004: 15% in the US and 8% in Canada. ReedHycalog president John Deane accurately forecast the US increase a year earlier, during his presentation on Sept. 24, 2004 (OGJ, Oct. 25, 2004, p. 49).The 52nd annual rig census was compiled by ReedHycalog, a division of Houston-based Grant Prideco Inc. and released Oct. 10. The survey was initially scheduled for presentation in late September 2005 at the IADC annual conference in Galveston, but was postponed due to Hurricane Rita.The rig census is based on rig ownership and activity (“turning to the right”) during ...

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