Are we at a tipping point for the deepwater rig market?

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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.

Table of contents

    • Offshore rig market recovery in full swing
    • Our forecast – a return to Golden Triangle dominance
    • Reactivations back on the table for the right price
    • Supportive factors
    • Inhibitors
    • Newbuilds
    • Rig rates on the rise
    • Rewards do not come without risks
    • Summary – what next for the deepwater market?
    • Conclusion

Tables and charts

This report includes 8 images and tables including:

  • Floating rig supply and demand – Deepwater drilling and rigs service
  • Floating rig demand by major region – Deepwater drilling and rigs service
  • Reactivations and cold-stacked floaters for the top 5 rig contractors – Deepwater Drilling and Rigs Service
  • Floating rigs day rate forecast – Deepwater drilling and rigs service

What's included

This report contains:

  • Document

    Are we at a tipping point for the deepwater rig market?

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