Land rigs in demand; fleet consolidations continue in the Americas

02/28/2005
Demand for land rigs has pushed up utilization and day rates; additional increases should occur in 2005. Drilling contractors are adding rigs through strategic acquisitions and newbuild programs in order to accommodate rising demand. US land drilling permits increased 41% in January 2005 from a year ago.Both operators and fleet owners can profit. Richard J. Mason challenged readers of The Land Rig Newsletter (Jan. 28, 2005) to dispute his assertion that operator profits are highest when day rates are highest. He points out that rig counts are generally highest when commodity prices are highest, and that day rates are not the primary determinant of operator profitability.US rig counts, per...
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