Find out what everyone really thinks about the offshore rig market with 8 burning questions

David Carter Shinn

Mar 19, 2019

At Bassoe Analytics, we promote collaboration and sharing of knowledge and opinions via our open source offshore rig database.  

And in our commentary, we regularly let you know what we think of the offshore rig market, but now we'd like to know what everyone else thinks about the trends, the issues, and the future of the industry.  

So we've come up with some short questions to give us all an indication on where things are going.  

These questions cover a range of topics.  As such, we've separated them into single questions so you can choose which ones you want to answer. 

By contributing your answers, you'll be part of the discussion and get to see what others think.  

After you vote, you can see the current results.  And we'll provide an update in a few weeks with the final numbers.  

Just click on any question below to vote for that one question.  You can answer as many as you want, but can only vote once per question. 

With that, here we go!

1) Compared to one year ago, how optimistic are you about demand for offshore drilling rigs over the next two years?

2) Pretend you’re starting a new offshore drilling company and can choose one type of rig to start your fleet with (assume funding is not an issue).  Which would it be?

3) Do you think more harsh environment semisub newbuilds are needed within the next five years or is the market sufficiently supplied?

4) Assuming 5-year project economics are similar, would you upgrade and reactivate an old rig or build a new one?

5) A semisub in Norway can currently expect dayrates of around $300,000 for new fixtures. Where do you see leading dayrates for new semisub fixtures in Norway in one year (assume drilling start in 2020)?

6) 6th and 7th generation drillships can currently expect dayrates in the $150,000-$200,000 range for new fixtures.  Where do you see leading dayrates for new ultra deepwater rig fixtures in one year (assume drilling start in 2020)?

7) Benign environment premium (modern) jackups can currently expect dayrates in the $70,000-$100,000 range for new fixtures.  Where do you see leading dayrates for new jackup fixtures in one year (assume drilling start in 2020)?

8) Do you believe peak oil demand is a risk to offshore drilling before 2040?

Did you know that Bassoe Analytics has launched a mobile app to bring offshore rig data to your smartphone? 

On the back of the success of the Bassoe Analytics website, we've decided to go mobile. Now you can access our open source offshore rig database when you're on the go.  Find out more and download the app from the Google Play or App Store here.

Image attribution: main image is author's own.