bunnymud
Do a little research before you post something in a thread. This is for 2004 so I'm sure it's gone up some but $500,000/day. No wonder gas is so high.
CONTRACT DRILLING RESULTS
Contract drilling rig rates for the fourth quarter averaged $14,857 per day, up 56% from the comparable quarter of 2004. Operating margins for the fourth quarter reached an all-time record averaging $7,283 per day (before elimination of intercompany drilling rig profit of $3.0 million) as compared to $3,410 per day (before elimination of intercompany drilling rig profit of $0.9 million) for 2004, an increase of 114%. Unit’s current dayrates average $17,129 per day, or $2,272 per day higher than the 2005 fourth quarter average and $1,486 per day higher than the December 2005 average. Contract drilling revenues increased 61% between the comparative fourth quarters to $139.8 million, primarily due to an increase in dayrates and the number of drilling rigs utilized. Average drilling rig utilization was 106.2 drilling rigs in the fourth quarter of 2005, up 12% from 2004’s fourth quarter of 95.0 drilling rigs. Operating margins for the year averaged $5,481 per day (before elimination of intercompany drilling rig profit of $8.6 million) as compared to $2,823 per day (before elimination of intercompany drilling rig profit of $3.7 million) in 2004, an increase of 94%. Contract drilling revenues increased 55% in 2005 to $462.1 million, while drilling rig utilization increased to an average of 102.1 drilling rigs operating during 2005, compared to 88.1 drilling rigs operating during 2004.