December 19, 2006
SCORE up again
GlobalSantaFe Corporation (NYSE:GSF) reports that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for November 2006 increased 0.7% to 132.5 from the previous month's SCORE of 131.6.
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.