Understanding rig rates - SSB
2012-6-27 · dramatically. From 1970 to 2005, total annual drilling costs in the USA never exceeded 35 per cent of total oil and gas revenues. In 2007-2010, the ratio was between 80 and 90 per cent each year. See figure 2. Figure 1: Rig rates and capacity utilisation rates for jackups in the GoM from 1991 to 2009.
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