Question-and-Answer Session
Operator
(Operator Instructions). Your first question comes from Jeff Tillery - Tudor Pickering Holt.
Jeff Tillery - Tudor Pickering Holt
John, with the recent pickup and activity in the Gulf of Mexico, how would you essentially contributing factors kind of down day rate, up cost post hurricane season. What do you attribute kind of the - what's most important, what least important in those factors do you think?
John Rynd
I think it's collectively all things kind of turning and it doing a 180 from where we are battling through the hurricane season. Obviously the people, given that the exposure to boost off like last year right us into drill this season.
So there was some of that pent up demand like the capital markets being open and being able to fill their [coppers] again with liquidity and I think as important the positive outlook on the forward curve on natural gas and then you layer that in with recalibration of all the service cost collectively it's working.
Jeff Tillery - Tudor Pickering Holt
The 11 available or marketed rigs you have in the Gulf of Mexico, do you have full crews for all those and tomorrow you could put them to work?
John Rynd
That's correct.
Jeff Tillery - Tudor Pickering Holt
Chevron signed up a nice term on several rigs, do you see other opportunities for term out there or is that more of a one off again?
John Rynd
No, I think we've seen other opportunities, another major, a large independent public EMP company that has a large acreage position in the Gulf of Mexico is currently in the market looking for three jack-ups starting kind of mid-January for plus or minus 180 days plus options.
Another large public independent EMP has a nice kind of eight months program that's out in the market. So it's been a good mix, I think that's what pleased us, as it was an all 30-day jobs. There has been a balance of the term.
As you know you have to get backlog before you have any chance to increase margins and by securing, in our example the three rigs with Chevron, we talked in our opening comments there is a 41 fleet, jack-up fleet marketed supply, well really there is 38.
If you take the three to the other operator and other one all of sudden, the available marketed supply is 33, 34. So another way to take the capacity off the market is to go long.
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