Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of Jeff Tillery with Tudor Pickering Holt; please proceed.
Jeff Tillery - Tudor Pickering Holt
Hi, good morning.
John Rynd
Morning Jeff.
Jeff Tillery - Tudor Pickering Holt
John I wonder if you can give us a figure for what the prospect looks like for the rig 170 in the Middle East, as well as for 156 kind of over the next nine to 12 months? You work out the potential for those?
John Rynd
There is potential, albeit right now we see just kind a short-term programs Jeff and highly competitive. So I think that we have kind of forecasted a pretty bleak outlook on the utilization for those two units, for 2010, albeit that doesn’t mean we are not trying to find job at every available spot, but it’s very competitive in both those regions.
I think right now there’s 27 jack-ups available in the Middle East and there’s currently over 17 available now and 24 by the end of the year. In West Africa we’ve got 12 available right now, about 50% utilization. So, it’s going to be very, very competitive.
Jeff Tillery - Tudor Pickering Holt
Sure, that makes sense. Then the same question for the two rigs on contract to the fall in Mexico. What is the feel for, the potential for those to plotter along and continue working down there?
John Rynd
Well, we saw the effect of working for paying backs earlier this year. We received the termination notice of about 80 days early on the 206. We had that for about two weeks and then we turn around and get a nice 140 day extension, that maybe it for that rig. At this time we don’t have any further visibility that there is impending work there.
The 205, we’re a little more confident on. We thank it has a fair chance to stay down there through 2010. As I look right now and as you noticed on the release, the fleet status report, we’ve got a nice 140 day extension on platform three. There’s a good chance it stays down through 2010 as well. Again, it changes fairly rapidly, so you’ve got to be fairly a lot on your feet.
Jeff Tillery - Tudor Pickering Holt
Sure, that’s helpful. Then my last question, just kind of a looking 2010 CapEx, should we think about the run rate you guys are experiencing the second half of this year as a decent baseline for 2010?
- To read the full transcript on Seeking Alpha, click here »
