Question-and-Answer Session
Operator
(Operating Instructions). We will go first to the side of Collin Gerry with Raymond James. Your line is open, please go ahead.
Collin Gerry - Raymond James
Hey, good morning guys.
John Irwin
Good morning, Collin.
Collin Gerry - Raymond James
Well, you gave us a lot of detail and I guess my first question, just kind of in regards to what you're seeing out there. Tell us about, we have seen some shrink in oil prices and it's been there for little while. Are we seeing any bids come back in the mid water market or even in jack-up? What's your sense if you could kind of read the pulse of what's on going on in the industry?
John Irwin
Collin, certainly having seen oil prices up and then, hopefully being sustained in a more favorable economic environment, should hopefully lead to improvement. When that could occur of course that's always the question and then in our strategy, then we have to consider both sooner rather than later and still latest. So our strategy hopefully addresses that.
But in simple terms, earlier in the year, as far as the mid water or the Southern Cross type opportunities and then jack-ups was very quite and not much discussion. At this point we're having more discussion on the idle rigs that we have. We do have discussions I think, on each one of them and it will work later this year or next year.
Now whether those come to past or go ahead or we are successful, remains to be seen. So I would characterize it by saying certainly there is more discussion. I don't see any major change or momentum this year at this point. And as far as the market itself and downward pressure on rates in those markets, I think that that downward pressure is still continuing and we will of course in bidding our rigs and with that strategy will adjust accordingly and pursuing that work aggressively.
Collin Gerry - Raymond James
Okay. And then Jim one for you, in your guidance, you had a bump in SG&A, is that for the next quarter, is that a run rate we should assume is more normal for 2010?
James Holland
Yeah, we're...
Collin Gerry - Raymond James
In 8 million range?
James Holland
Well, our December quarter will always be the highest G&A because that's when we get the bonuses and kind of year end compensation that gets all expense through. But I think that the 8 million is probably a pretty run rate for the three quarters with exception of that first fiscal quarter which could be more in the 10 million range.
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