Globalsantafe

Drilling company GlobalSantaFe Corp. said its worldwide Summary of Current Offshore Rig Economics, or SCORE report, for November 2002 was down from the previous month’s SCORE by 1%. CEO Sted Garber said the SCORE in various international markets “continues to fluctuate. The offshore drilling rig market will likely be in a holding pattern until operators’ 2003 exploration and production budgets provide some direction.” The SCORE report compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980-1981 peak of the offshore drilling cycle.