Long lead times persist for oil drilling rigs, mining equipment and some other specialized machinery, but generally companies face no supply limitations when considering expansion.
FORBES: Economic Forecast Update, 2013-2014: Light-to-moderate Growth
Oilfield services companies provide the tools and equipment required in the exploration of oil including drilling rigs, offshore rigs and transport equipment.
B. purchased thirty oil-drilling rigs from a Chinese company.
In 2005, Katrina and Hurricane Rita destroyed 109 oil platforms and five drilling rigs.
During Hurricanes Katrina and Rita three years ago, some 100 oil platforms and five drilling rigs were destroyed.
Katrina together with Hurricane Rita, which occurred in the same year, destroyed 109 oil platforms and five drilling rigs.
On drilling rigs and in oil-sands mines a small mistake can easily result in injury or death.
The trend has been more encouraging on the oil drilling front with the number of rigs growing by around 6% for the year as the United States in particular ramps up oil production.
Low oil prices had the company's drilling rigs pumping out losses.
The company bought oil rigs at low prices from Seahawk Drilling, another oil company with debt on the balance sheet, at a time when larger oil companies are spending cash to rebuild rigs, they say.
In the 1960s it was hoped that the development of oil and gas would revive British manufacturing with orders for drilling rigs, production platforms and survey vessels.
This at a time when permitting of offshore drilling has been slowed to a near halt, oil rigs are being displaced to foreign locations by government regulators, and vast land and ocean oil and gas reservoirs, including oil shale deposits, have been put off-limits altogether.
As of March 25, there were 1, 738 rigs preparing for, or in the process of, drilling new oil and gas well across the country.
Since 2004 Saudi Aramco has been fighting declining oil output from megafields like 70-billion-barrel Ghawar by doubling the number of drilling rigs to 120 this year.
Several owners of small companies who provide a myriad of services to support offshore drilling in the Gulf, including those who ferry people and supplies to offshore oil rigs, went to federal court to enjoin the federal government from enforcing what they saw as an arbitrarily imposed moratorium.
FORBES: The Gulf's "Little People" Fight Back--Against Obama
Plank, who has seen more than a few business cycles over his 44-year career in the oil business, began to cut spending last year as rental rates for U.S. drilling rigs doubled -- and tripled -- on rising demand.
It has also left the oil firms hostage to the availability of increasingly expensive and sought-after services, from advanced drilling to deepwater rigs, which a dwindling number of OFS firms can provide.
Oil giant Royal Dutch Shell and Noble Corp. have teamed up to design and build two innovative new deepwater drilling rigs.
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