WoodMac: NW Europe operators' drilling plans for 1997

NW Europe's Mobile Drilling Rig Demand [29910 bytes] Northwest Europe's drilling sector is expected to continue buoyant in 1997, as operators increase exploration/appraisal activity and push major field developments. This is the view of Wood Mackenzie Consultants Ltd., Edinburgh, which expects rig demand and utilization to stay high and charter rates for drilling rigs to increase further. The analyst predicts that a total 170 exploration and appraisal (E&A) wells will be drilled off Northwest Europe this year: 105 off the U.K., 35 off Norway, 22 off the Netherlands, and four each off Denmark and Ireland. This compares with a total 158 E&A well start...

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