RigData Offshore - July 8, 2010 - Gulf of Mexico Rig Utilization Weekly Update

Fort Worth, TX, July 10, 2010 --(PR.com)-- Mobile rig utilization in the Gulf of Mexico fell again this week. Total fleet utilization is now 56.6% with 69 of 122 mobile rigs under contract or committed for work. Marketed utilization, which excludes those cold stacked and other non-marketed rigs, dipped to 82.1% with 69 of the 84 units under contract. Atwood Oceanics submersible Richmond completed its contract for Contango Operators and was moved to Sabine Pass.

Within the jackup fleet, total utilization decreased to 46.3% as one previously working jackup was released. Overall, 38 of the 82 total rigs are under contract or committed for work. Marketed utilization dropped to 76% with 38 of 50 units contracted. The Hercules 204 accounted for the decrease after it finished its contract with LLOG Exploration.

Floating rig fleet utilization remained at 91.2% with 31 of 34 units under contract, while marketed utilization was also unchanged at 93.9% with 31 of 33 units under contract.

Total platform rig fleet remained at 31.4% with 16 of 51 rigs contracted, while marketed utilization stayed at 45.7% with 16 of 35 rigs under contract. Inland barge fleet utilization rose as one idle unit was put back to work. Total fleet utilization is 50% with 29 of 58 units under contract, while marketed utilization is 72.5% with 29 of 40 units under contract.

For more details: http://www.rigdata.com/offshore.aspx?utm_source=PRlog%2BPress%2BRelease&utm_medium=PRlog&utm_campaign=PRlog%2BGOM%2BWeekly%2BUpdate

Jamie Matlin