Oil Rig Manufacturers: US

Rig manufacturers takes a breather with the increasing demand for rigs across the world. The boom in drilling activities has shaken the rig-building industry out of a 2-decade slumber. And the dramatic jump in demand for both new and refurbished rigs is leaving many companies with maxed-out capacity and component shortages.

Houston-based IDM Equipment, which specializes in AC rigs,has no manufacturing slots available until the second quarter 2007, according to sales manager Barry Olsen. And in Odessa, Texas, MD Cowan is making “super-single” rigs that are smaller than conventional rigs and require only 2 workers to operate. President Mike Cowan said his company is also booked through mid-2007. It put out 7 rigs in 2005, doubled production to 14 rigs this year, and plans to push capacity to 24 in 2007. That’s nearly a 250% growth over 2 years. “We’re increasing our capacity as much as we can and as fast as we can,” Mr Cowan said. “We also do rig refurbishments, but the newbuilds are taking over the refurbs. There’s nothing left to refurbish anymore. The used inventory is exhausted. They’re gone.”

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