Insight
Are we at a tipping point for the deepwater rig market?
Report summary
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
-
Executive summary
- 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:
Other reports you may be interested in
Insight
Unwanted spend: how big is the deepwater decommissioning bill?
How will a US$27 billion decommissioning bill in the next ten years affect deepwater operators, taxpayers, and the supply chain?
$1,350
Country Report
US GoM deepwater upstream summary slides
To complement our more detailed upstream summary we provide a slide-pack of the key issues.
$4,750
Country Report
Global oil supply short-term update - October 2023
OPEC+ makes no change to production policy as Saudi Arabia and Russia continue with voluntary cuts as planned
$1,650
