Wednesday, September 28, 2005

Bowling pins are to bowling ball as..

Jeff Matthews Is Not Making This Up: “The Rig Devastation is Quite Significant”.


Rowan has its own planes and were thus one of the first on the scene to witness the impact. They say that the rig devastation is quite significant and the pilots reported that in an area where they previously would see about 15 jack-ups there were none visible.

Meanwhile, Rowan sees a more significant impact on their business besides the loss of a few of their own rigs, thanks to the apparent disappearance of so many other rigs in that region: drilling rates in the Gulf should “sky rocket,” according to the Petrie Parkman note.

CNBC: Director spots XTO Energy, Hornbeck Offshore.

[..Gulf of Mexico rigs are to hurricanes?]