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Message: TEC drilling rigs utilization rate

TEC drilling rigs utilization rate

posted on Jun 16, 2008 01:30PM

TEC drilling rigs utilization rate for the 2nd week of June was 14%. 6 Rigs out of 7 were down.This is in line with the Q2/2007(at 12%).

Hopefully the servicing Rigs will make up for the loses in the drilling devision.Q2 is always very slow. Last year TEC reported 4 cents loses in Q2. Will have to wait until August to see the numbers.

Oil service sector has very positive momentum after long slump. This should curry the TEC SP higher untill companies start to report Q2 numbers.

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