Demand for offshore rigs predicted to rise in coming years – Bassoe
The demand for offshore rigs is expected to grow in the coming years, despite scores of assets currently sitting idle.
Bassoe Offshore
Drillships back to pre-Covid levels as owners test $200K ‘ceiling’ on day rates
The “psychological ceiling” of $200,000 day rates for offshore drillships will be broken “more routinely” now that the market has reached pre-Covid levels.
Dozens of oil rigs sold for scrapping in 2020 – Bassoe
Dozens of oil rigs were sold for scrapping in 2020 as the drilling sector dealt with the impacts of Covid-19, according to market-watcher Bassoe Offshore.
Guyana-Suriname sees rig ‘demand surge’ as region bucks global trend
The Guyana-Suriname basin is helping drive a “surge” of oil rig demand in South America, bucking the global trend of depressed activity, according to new analysis.
Offshore rigs lose $30billion in value over 12 months – Bassoe
Drilling rigs have taken a $30billion (£22.5bn) hit to their values over the last 12 months, according to Bassoe Offshore.
Borr Drilling sells third rig in a month in $4.5million deal
Borr Drilling has announced the sale of its third rig in a month as the firm seeks to consolidate its fleet size.
Shipyards face ‘brutal’ £11.6billion losses over unwanted offshore rigs – Bassoe
Shipyards are facing “brutal” $15.2billion (£11.6bn) losses over new-build offshore drilling rigs that no one wants, according to Bassoe Offshore.
Use of offshore rigs sees ‘largest monthly drop for 20 years’ – Rystad
Use of offshore drilling rigs globally has seen the largest monthly drop in 20 years, according to analysis from Rystad Energy.
Offshore rigs need scrapped to end industry’s ‘bankruptcy nightmare’ – Bassoe
Scrapping of offshore oil rigs needs to be significantly ramped up in order to end the “bankruptcy nightmare” of their owners, according to Bassoe Offshore.
Sapura wins Cote d’Ivoire drilling
Sapura Energy will drill offshore Cote d’Ivoire in the first quarter of 2022 for Foxtrot International.
Offshore drilling firms should re-think ‘primitive’ day rate model, says BCG
Offshore drilling firms should re-think the “primitive” day-rate business model in order to survive the current industry crisis, according to new analysis from Boston Consulting Group (BCG).
EV Out Loud: Decom cash, a rig dash and a South African splash
Should the government stump up some of the cash it was going to pay out for decommissioning ahead of time, in order to get the ball rolling? Decom North Sea thinks so, although other opinions are available. At a time when the national debt is hitting record levels, and a number of sectors are calling for help, the government may not want to help out the oil and gas industry.
UK operators will ‘struggle’ to find rigs for North Sea work in 2021 – Bassoe
UK operators will "struggle” to find semi-submersible rigs for work in the North Sea next year, according to new analysis.