Jackups continue their exodus from the U.S. Gulf
by Jerry Greenberg
8/1/2007
By Jerry Greenberg
Rates for offshore service vessels were relatively unchanged
in June. Operators of larger supply boats, however, recorded an
average increase of more than $600 per day, with utilization up
1 percent. Rates for small supply vessels were unchanged while
utilization fell 3 percent.
Small crewboats saw day rates dip $400 in June.
The big news is the continued loss of rigs. Three more rigs
departed the U.S. Gulf of Mexico during the last two weeks of
June. Two jackups and a semisubmersible left, reducing the
total rig fleet to 131 from 134 earlier in the month. The
semisubmersible, however, is expected to return to the U.S.
Gulf later this year after a 110-day stay in Brazil. But the
two jackups are expected to work outside the Gulf for several
years.
It's the same old story, according to Cinnamon Odell,
associate editor of the Gulf of Mexico Newsletter . Odell noted
that three more jackups are slated to exit the Gulf in coming
months, one mobilizing to the United Arab Emirates and two to
Mexico. However, a semisubmersible will mobilize from the
Mexican Gulf to the U.S. Gulf at the end of July.
The number of rigs under contract fell to 108 at the end of
June from 110 a month earlier. A year ago, ODS-Petrodata,
Houston, reported 150 rigs in the U.S. Gulf with 130 under
contract.
Odell said that some operators were holding off on planned
exploration programs for several reasons. Many are waiting to
see how this year's hurricane season will shape up, she noted.
However, Odell said there is a more tangible reason affecting
drilling activity.
"Operators are drilling fewer wells because they don't have
access to premium jackup rigs necessary to drill those
particular prospects," she said. "Most of the jackups leaving
the Gulf have been premium units so the operators are forced to
wait for a contract slot to open on the remaining premium
jackups."