Crude oil is trading in the low $100s, despite coordinated efforts by major countries to lower prices by releasing crude from strategic reserves. Natural gas prices also remain at high level, driven by need in Europe to build gas inventories in expectation of the looming cutback in Russian gas deliveries. The good news is elevated oil and gas prices have been generating record profits for E&P operators, providing incentive to increase capital expenditures on new development projects. Several more FPSO projects recently moved into the near-term contract queue, raising to 31 the number of oil/gas production floater contracts lined for award over the next 18 months -- provided enough building capacity is available. Two oil/gas production floater projects moved forward over the past month – a redeploy contract for a production semi in the GOM and an engineering contract designed to morph into a lease and operate contract for an FPSO in Brazil. Perhaps most impressive has been the large number of FSRUs leased on a long-term basis over the past few weeks. Seven FSRU leases were signed in May by European utilities scrambling to replace Russian gas pipeline deliveries. These leases pretty much absorbed a large portion of the available FSRUs that had been looking for terminal contracts. All is discussed in WER's May floater report. Also in the data section of the report are details for 190 floater projects in the planning stage, 67 production or storage floaters now on order, 304 floating production units currently in service and 22 production floaters available for redeployment contracts. Accompanying excel spreadsheets provide the report data in sortable format. Information is current as of 29 May.