World drilling market absorbing new jack ups

Demand for jack up drilling rigs has pushed up day rates, with 17 newbuilds delivered in 2000-04 and 12 more under construction. Several new designs lead the way, including the Rowan/LeTourneau Tarzan class, Keppel FELS Super B Class, Friede & Goldman's JU-2000, and the Baker Pacific Marine 375. These designs enable deep drilling to 35,000 and perhaps 40,000 ft, in water as deep as 500 ft.

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