Offshore SCORE up again

GlobalSantaFe Corporation (NYSE:GSF) reports that its worldwide SCORE, or Summary of Current Offshore Rig Economics, for July 2005 was up 3.1% from the previous month's SCORE.

	Jul-05	Jun-05	1 Month	1 Year	5 Year
	SCORE	SCORE	Change	Change	Change
By Area:
Gulf of Mexico	76.1	71.0	7.3%	82.4%	112.7%
North Sea	86.7	86.3	0.4%	109.8%	271.5%
West Africa	78.7	77.8	1.1%	55.0%	121.6%
SE Asia	62.6	61.2	2.2%	14.5%	93.1%
By Type:
Jackup	73.4	70.5	4.2%	34.6%	88.3%
Semisubmersible	84.1	82.6	1.7%	137.4%	278.0%
Worldwide	77.9	75.6	3.1%	74.1%	149.9%

GlobalSantaFe's SCORE compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980-1981 peak of the offshore drilling cycle. In the 1980-1981 period, when SCORE averaged 100 percent, new contract dayrates equaled the sum of daily cash operating costs plus approximately $700 per day per million dollars invested.

MORE NEWS STORIES

---

Tell a friend: