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| NOVEMBER | DECEMBER
| OSV
Day Rates - December, 2003 |
|
Rates, utilization
drop again
By Jerry Greenberg
November was a bad month for Gulf of Mexico workboat
operators as utilization and day rates took a steep
dive. Utilization fell 10 to 20 percent or more and
average day rates for some vessels fell over $1,000
from October’s rates.
Large supply vessels experienced the biggest rate
decrease, dropping over $1,100 from the previous
month. Utilization
fell as well.
Small crewboats took the biggest hit in utilization
in November dropping 19 percent. Larger crewboats
also dipped, dropping 13 percent.
Day rates for all crewboats fell as well.
One of the reasons behind the continued weak showing
in the workboat fleet is, once again, the dismal
Gulf of Mexico rig market. Rigs are still seeking
greener
pastures as three more exited the U.S. Gulf during
the past month. The bad news was compounded as the
number of contracted rigs also fell, dropping by
one at the end of November from the previous week.
The question is whether there is some hope for future
drilling activity. New data and a better understanding
of the potential of deep gas have led the Minerals
Management Service to increase its resource estimate
range to 15-55 tcf of gas in the deep shelf area,
up from the previous estimate of 5-20 tcf.
MMS Director Johnnie Burton said the new estimate
was a hopeful sign. “It is imperative to find diverse
sources of natural gas,” Burton said. “Gas
discovered in very deep waters of the Gulf or in shallow
waters but deep into the shelf remains a key supply
source.”
MMS revised its estimate based upon better understanding
of deep gas discoveries that are now producing, recently
announced large discoveries, new seismic data acquired
and processed using the latest technology that improves
imaging at increased subsurface depths, and conceptual
plays that can be outlined and mapped using the new
seismic data.
| OSV
Day Rates - November, 2003 |
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| OSV
Day Rates - October, 2003 |
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| OSV
Day Rates - September, 2003 |
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| OSV
Day Rates - August, 2003 |
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| OSV
Day Rates - July, 2003 |
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| OSV
Day Rates - June, 2003 |
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| OSV
Day Rates - May, 2003 |
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| OSV
Day Rates - April, 2003 |
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| OSV
Day Rates - March, 2003 |
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| OSV
Day Rates - February, 2003 |
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| OSV
Day Rates - January, 2003 |
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