Are we at a tipping point for the deepwater rig market?
Rig companies are making money again. Day rates are increasing and look set to go higher. Operators are focusing on getting the best total cost for drilling and addressing emissions while retaining contracting flexibility. The market, particularly for the best rigs, is nearly sold out. What’s next for the deepwater rig market? · Do operators abandon contractual flexibility and return to long-term contracting? · Do rig owners seize the opportunity to add more capacity? · Or do operators and rig contractors keep the status quo? · Will the need for lower emissions and efficiency drive a new build cycle? The Wood Mackenzie Upstream Supply Chain Service delivers a complete set of solutions for offshore drilling and rigs, subsea, marine construction, and offshore facilities. The result is a comprehensive outlook that helps you understand supply and demand, benchmark against peers, assess costs, and confidently guide strategy.