38th annual Reed rig census
- Market Research and Analysis, Reed Tool Co., Houston, TX (US)
According to this report, sharp and encouraging movement toward a balance between rig supply and demand is becoming apparent. During the past year, contractors reported the number of rigs available for drilling in the U.S. fell by 222 (8.7%). Contractors also reported that rigs meeting the census definition of active increased by 233 (16.1%). Highlights of the 1990 census, presented by the authors, include: The available U.S. fleet now stands at 2,320 rigs, the lowest since 1976. Last year's count was 2,542. The census active count of 1,677 rigs is the highest since 1985 and up from 1,444 last year. Rig utilization increased to 72%, up from the 57% a year ago. The number of rig owners declined from 558 to 500. More than 190 companies have left the drilling business since 1987. About 6.5% of last year's fleet was cannibalized or auctioned as parts.
- OSTI ID:
- 6351738
- Journal Information:
- World Oil; (USA), Vol. 211:4; ISSN 0043-8790
- Country of Publication:
- United States
- Language:
- English
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