Recovery slow to take hold in drilling market

07/26/1999
Although it is getting easier for exploration and production firms to think of the oil price revival as an enduring recovery, it will be a while before the effects of the upturn trickle down to the contract drilling market.The extended price collapse was so long and severe that operators are hesitant to be too swift in readjusting their spending plans based on the increase in oil prices. Although a few have announced such plans for the second half of 1999, many will take a more conservative approach, which means drilling contractors will have to endure a little more slump before activity and day rates pick up again.Decline slowsAccording to the most recent summary of current offshore rig ...
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