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30 • MarineNews • August 2006 GlobalSantaFe Worldwide June SCORE Up GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Eco- nomics, for June 2006 was up 1.8 percent from the previous month's SCORE.Glob- alSantaFe's SCORE compares the prof- itability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980- 1981 peak of the off- shore drilling cycle. In the 1980-1981 period, when SCORE averaged 100 per- cent, new contract dayrates equaled the sum of daily cash operating costs plus approximately $700 per day per million dollars invested. In addition to a world- wide SCORE covering key types of com- petitive offshore drilling rigs in key drilling markets, a separate SCORE is cal- culated for certain types of rigs and cer- tain regions to indicate the relative condi- tion of rig markets. The release, which is made available for publication on the third Monday of each month, includes separate SCORE calculations for the U.S. Gulf of Mexico, the North Sea, West Africa and Southeast Asia. Baker Hughes Announces June 2006 Rig Counts Baker Hughes Incorporated announced that the international rig count for June 2006 was 906, down 14 from the 920 counted in May 2006, and down 26 from the 932 counted in June 2005. The inter- national offshore rig count for June 2006 was 265, down 10 from the 275 counted in May 2006 and down 26 from the 291 counted in June 2005. (1) Excluding Iran and Sudan, the inter- national rig count for June 2006 was 906, down 14 from the 920 counted in May 2006, and up 30 from the 876 counted in June 2005. The international offshore rig count for June 2006 was 265, down 10 from the 275 counted in May 2006 and down 18 from the 283 counted in June 2005. The U.S. rig count for June 2006 was 1,665 up 30 from the 1,635 counted in May 2006 and up 310 from the 1,355 counted in June 2005. The Canadian rig count for June 2006 was 408, up 168 from the 240 counted in May 2006 and up 115 from the 293 counted in June 2005. The worldwide rig count for June 2006 was 2,979, up 184 from the 2,795 counted in May 2006 and up 399 from the 2,580 counted in June 2005. 1Excluding Iran and Sudan, the worldwide rig count for June 2006 was 2,979, up 184 from the 2,795 counted in May 2006 and up 455 from the 2,524 counted in June 2005. [(1) Beginning with the January 2006 report, the company has discontinued its rig count for Iran and Sudan. In the third quarter of 2005, independent foreign sub- sidiaries initiated a process to prohibit any business activity that directly or indirectly involves or facilitates transactions in Iran, Sudan or with their governments, includ- ing government-controlled companies operating outside of these countries.] Tidewater Promotes Platt Tidewater Inc. promoted Jeffrey M. Platt, from senior vice president of the company to the position of executive vice president. Platt will be responsible for overseeing the day-to-day marine opera- tions of the company, both domestically and internationally. Platt is a 1979 gradu- ate of the University of Pittsburgh with a degree in Electrical Engineering. He joined Tidewater in 1996 as general man- ager of its business activities in Brazil. Crofts Promoted Russell Crofts has been named Manag- ing Director for Premier Oilfield Rentals, a Superior Energy Services company. Crofts has been with Premier Oilfield Rentals, headquartered in Aberdeen, Scot- land, for the past 25 years, most recently as Director of Corporate Services. Pre- mier Oilfield Rentals provides drilling tools, Oil Country Tubular Goods (OCTG) products and tubular handling equipment to customers around the world. Most Recent GOM Drilling Permits These are the most recent Gulf of Mexico drilling plans filed with the MMS. Date Operator Block Water Depth 7/13 W & T Offshore, Inc. EI 217 117 ft 7/12 Apache Corporation SS 354 463 ft 7/12 Apache Corporation ST 206 165 ft 7/12 Exxon Mobil Corporation WD 20 50 ft 7/12 ConocoPhillips Company GB 783 4,674 ft 7/11 Union Oil of California WC 44 34 ft 7/11 Petsec Energy Inc. VR 257 140 ft 7/11 Kerr-McGee Oil & Gas AT 140 3,739 ft 7/10 ATP Oil & Gas Corporation WC 237 70 ft 7/10 Tana Exploration Company EI 85 27 ft Baker Hughes Incorporated announced that the international rig count for June 2006 was 906, down 14 from the 920 counted in May 2006, and down 26 from the 932 counted in June 2005. The international offshore rig count for June 2006 was 265, down 10 from the 275 counted in May 2006 and down 26 from the 291 counted in June 2005. June 2006 Rotary Rig Counts June 2006 May 2006 June 2005 Land OS Total Var. Land OS Total Land OS Total United States 1570 95 1665 30 1512 100 1635 1259 96 1355 Canada 404 4 408 168 237 3 240 289 4 293 North America 1974 99 2073 221 1749 103 1875 1548 100 1648 Worldwide 2615 364 2979 184 2394 378 2795 2189 391 2580 Water Depth Active Approved Applications Active in Meters Leases to Drill Platforms 0 to 200 3,524 42,069 3,867 201 to 400 224 1,270 21 401 to 800 436 857 10 801 to 1000 359 429 7 1000 and Above 3,443 1,218 16 Source: MMS Most Recent GOM Exploration & Construction Plans Date Operator Plan Type Block Depth 7/11/2006 Magnum Hunter Production, Inc. DOCD MP 200 168 ft 7/11/2006 Magnum Hunter Production, Inc. DOCD MP 185 161 ft 7/11/2006 Chevron U.S.A. Inc. EP GC 771 5,094 ft 7/11/2006 Arena Offshore, LLC DOCD EC 328 256 ft 7/7/2006 BP Exploration & Production Inc. EP GC 821 4,779 ft 7/7/2006 Noble Energy, Inc. EP MC 292 4,786 ft 7/7/2006 Hydro Gulf of Mexico, L.L.C. DOCD WC 295 46 ft 7/6/2006 BP Exploration & Production Inc. EP MC 562 6,547 ft 7/6/2006 Dominion Exploration & Production, Inc. EP VK 959 4,589 ft 7/3/2006 Apache Corporation DOCD MC 148 755 ft These are the most recent Gulf of Mexico exploration and construction plans filed with the MMS (Source: www.rigzone.com) Worldwide Offshore Rig Utilization Drillships Jackups Semisubs June 2006 26 34 76.50% 304 321 94.70% 128 140 91.40% May 2006 26 34 76.50% 302 320 94.40% 131 140 93.60% April 2006 28 34 82.40% 297 317 93.70% 132 140 94.30% March 2006 28 34 82.40% 295 317 93.10% 130 140 92.90% February 2006 28 34 82.40% 296 317 93.40% 131 140 93.60% January 2006 27 34 79.40% 290 317 91.50% 131 140 93.60% (Source: www.rigzone.com) Offshore Statistics by Water Depth Workover Rig Counts June 2006 June Var. May June 2006 2006 2006 United States 1647 10 1657 1309 Canada 760 234 526 508 North America 2407 224 2183 1817 Offshore Statistics by Water Depth Worldwide Offshore Rig Utilization Offshore Baker Hughes May 2006 Rig Counts AUGUST MN2006 4(25-32).qxd 8/3/2006 3:41 PM Page 30
