Drilling activity and dayrates continue to rise

10/30/2000
The good news is that US drilling activity is up a record 41% from year-ago levels, but the best news is that day rates are up, too, and likely to continue rising with the available rig fleet at an all time low, reported officials of Reed-Hycalog, a unit of Schlumberger Ltd., in its annual rig census."The only bad portion of this story would be if you're looking for a rig," said John Deane, Reed-Hycalog's president, as he revealed results of that latest survey at the annual meeting of the International Association of Drilling Contractors in Houston. Click here to enlarge imageReed officials counted a total of 1,215 rigs working in the US and its waters during the survey period of...
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