TODCO

Todco is a leading provider of contract oil and gas drilling services, primarily in the U.S. Gulf of Mexico shallow water and inland marine region, an area that they refer to as the U.S. Gulf Coast. They have the largest fleet of drilling rigs in the U.S. Gulf Coast and believe that, as a result of their leading position and geographic focus, they are well-positioned to benefit from the potential increased drilling activity for natural gas in this region. They own, have partial ownership in or o... perate a fleet of 70 drilling rigs. Their U.S. Gulf Coast jackup fleet consists of 19 rigs, including independent leg cantilever jackup rigs, mat-supported cantilever jackup rigs and mat-supported slot-type jackup rigs that drill in water depths up to 250 feet. Their U.S. Gulf Coast drilling barge fleet consists of 30 rigs, including posted and conventional barges that operate in inland waters, bays and coastal transition zones. They own three submersible drilling rigs located in the U.S. Gulf Coast, two jackup rigs and a platform rig located in Trinidad and nine land rigs as well as three lake barges located in Venezuela. Additionally, they have one independent leg cantilever jackup rig being mobilized to Venezuela that is scheduled to begin operating in mid-December 2003. They also have two mat-supported cantilever jackup rigs working in Mexico.More