The current fundamentals in the market aren’t driving values; buyers are. As deepwater drillship transactions keep trickling in, values are likely to climb further.
The offshore rig market needed consolidation, and it got it in one mega dose. The merger between Ensco and Rowan will change the entire offshore drilling industry.
Someone other than Borr has finally acquired a newbuild jackup. And other established rig owners are likely to follow.
Ocean Rig monetizes their fleet while Transocean gets bigger. Both parties can call it a win.
There just aren’t enough new rigs to meet long-term drilling requirements in the North Sea and Canada. More newbuilds are coming.
Saudi Aramco just gave the jackup market a shot of adrenaline. Rig owners should be loving what they’re seeing.
Wintershall awards six-well contract to Northern Drilling's newbuild CS-60 harsh environment semisub, West Mira.
Let the newbuilds come. The jackup market is far from oversupplied.
There’s probably much more behind Ocean Rig’s recent spinoff of the Leiv Eiriksson and Eirik Raude than they’re telling us.
The need for consolidation among offshore rig owners is just as dire as it’s ever been. Now that everyone loves offshore drilling again, many rig owners seem to think they’re strong enough on their ...
Borr raises $350 million in a matter of minutes as it takes a new bite out of the distressed asset fleet.
With a clear strategy and commitment to execution, they’re shrewdly maneuvering through the distressed offshore rig world. Northern Drilling’s exploits should pay off nicely.
The drillship market has sucked for years. Now it’s getting interesting.
Nearly 20 jackups left the offshore rig fleet during the first quarter of the year. A lot more are coming as rig owners throw in the towel for their old assets.
The next generation of harsh environment semisubs is on its way as the Norwegian oil industry takes a step forward in its quest for optimization and sustainability.