Remember me | Forgot password
For full content view: Log in Now!
Record oil prices have boosted worldwide offshore rig demand to its highest level in years, yet the working rig counts in the US Gulf of Mexico and off Canada’s Atlantic provinces are on the decline.
In July 2005, before two devastating hurricanes struck the US Gulf coast, 120 mobile offshore rigs were working. One year later, only 109 mobile offshore rigs are working in the region, and while last year’s storms get some of the blame for the decline, they are not the sole reason for the falling US Gulf rig count. As can be seen in Fig. 1, a long-term decline in rig supply has been taking place, unrelated to hurricanes. The more-or-less steady decline in the US Gulf rig fleet size is indicative of market forces at work. For many years, the region was, and for the most part continues to be, a well-to-well market in terms of drilling contracts.
This area of the site is restricted.
In order to gain access, please either Log
In, or subscribe to World Oil.
Two options are available to you for creating an account.
1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.
Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.
2. Purchase a subscription to World Oil magazine and gain immediate
and complete access to World Oil Online. As a Total Access subscriber
you will have access to all areas of the site available to registered users and
free subscribers as well as having access to such premium content areas as:
Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.
If you are already a paid subscriber and do not have access, please email CustomerService@worldoil.com.
World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.
Noordwijk - June 5-7
San Antonio, TX - June 6-6
London - June 10-13
All material subject to strictly enforced copyright laws.
© 2013 World Oil. © 2013 Gulf Publishing Company.