Insight
Floating rig rates on the upswing as available supply shrinks
Report summary
Operators are facing increasingly tighter rig supply while rig rates creep upwards. Rig contractors are riding the momentum of improved margins and backlogs. With pricing power tipping to suppliers, urgency will propel operators to make tough decisions to secure a rig. Read on to learn: • What rig contractors are focused on near-term • Where future potential drilling activity could further strain rig supply • The challenges operators will continue to contend with
Table of contents
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Executive summary
- Rig contractors are focusing on their fleets and the future
- A sense of urgency for operators to get the appropriate rig at reasonable prices
- Inflation is driving WoodMac’s development drilling capex
Tables and charts
This report includes 2 images and tables including:
- Global utilisation of the actively marketed floater fleet
- Upstream development capex and rig day rates
What's included
This report contains:
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