Global offshore rig market could reach 96% utilisation in 2024
Westwood expects offshore rig dayrates to continue their upward trajectory across the board in 2024 as supply tightens.
rig market
North Sea rig shortage a ‘big challenge’ to industry’s decom plans, says Spirit boss
Industry’s plans for shutting down scores of obsolete wells in the North Sea could be scuppered by a lack of free rigs, a senior figure has warned.
Norway facing rig supply deficit as units continue exit from North Sea
Norway is facing up to the challenges of working with a “significantly” smaller drilling fleet as rigs continue their flight from the North Sea.
Industry fears being realised as Westwood warns windfall tax is accelerating North Sea rig exodus
A top market analyst fears the North Sea faces losing rigs “for good”, unless changes are made to the UK’s oil and gas windfall tax.
Market analyst notes ‘fall away’ in North Sea rig tendering activity on windfall tax ramp up
A top rig market analyst has laid bare the impact of the UK Government’s windfall tax hike on the UK’s drilling sector.
Global offshore rig utilisation to average 95% this year, says Westwood
Activity in the North Sea is a “bit questionable” though given the current windfall tax, which has prompted some operators to send rigs elsewhere.
Drillships ‘leading deepwater recovery’ as day rates pass $400k
Drillships are driving the recovery in the deepwater market, according to a leading rig analyst, with contractors moving to procure new or stranded units as day rates continue to rise.
Offshore rig supply at lowest level since 2005 as consolidation continues
Scrapping and cold-stacking have reduced the global offshore rig supply, while stable commodity prices drive increased activity and greater utilisation heading into 2022, according to rig analysts Esgian.
Statoil pouring $1.56billion into intervention vessel charters
Statoil is pouring an estimated $1.56billion into chartering three light well intervention (LWI) vessels from Island Offshore Management and Eide Marine Services for services aimed at increasing recovery from approximately 500 Statoil-operated subsea wells on the Norwegian Continental Shelf.