It's good to be the drill king.
The fourth quarter only included about a month's contribution from GSF, so the comparison isn't terribly useful. The margin picture, however, brightened meaningfully. Field operating income margins lifted from the upper 50% range into the lower 60s. Note that this includes all revenue sources, some of which are lower-margin than drilling, so the figure is understated compared to the contract drilling margins I tend to talk about when I praise Noble's
I've talked about the tax rates of some of these drillers, which vary widely due to geographic factors. Diamond Offshore
Transocean's been scoring some big contract wins in India, an exciting basin that has been overshadowed by the exploration exhilaration in places like Angola and particularly Brazil. Reliance Industries, a bit like a Petrobras