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Worldwide floater drilling rigs not delivered 2017

Why newbuild orders face high barriers despite offshore drilling

Strong demand for oil combined with high oil prices during the previous offshore drilling upcycle (2010-2014) spurred a wave of new orders for offshore drilling rigs, particularly

Offshore Rig Sector Faces Long And Winding Road

At the same time, older rigs are being retired at a record pace, with 21 floaters and 15 jackups taken out of service this year up to the end of

Seadrill secures short-term contracts, newbuild

Offshore staff HAMILTON, Bermuda – Seadrill has issued an update on its fleet and market prospects for the offshore drilling industry. The

Drilling, Completing, and Producing from Oil and Natural Gas Wells

Fast Facts About Drilling, Completing, and Producing From Oil and Natural Gas Wells Once a suitable well location has been identified, permitted, and leased, the next steps for oil and

Rig construction market remains quiet but with room

Editor''s note: This story first appeared in the November-December 2022 issue of Offshore magazine. Click here to view the full issue. By Justin

Rising Oil Prices and Cost Efficiencies Driving Greater Global Demand

HOUSTON--(BUSINESS WIRE)--Consistently higher oil prices and greater cost-efficiency in offshore projects are driving increased demand for offshore drilling rigs through

Analyst finds monthly rig contracts down in the Gulf of

Meanwhile, Stena''s DrillMAX, Ocean Rig''s Poseidon, and Noble''s Paul Romano were all extended to 3Q, but Maersk Drilling''s Viking is now

Offshore Drilling Outlook to 2035

15% lower than they were in 2017. With peak floater retirement in 2017 (31 rigs) and an additional 20 rigs retired in 2018, floater day rates increased by 25% in 2018, accompanied by an increase.

Westwood Insight – The offshore rig market recovery continues,

Offshore Rig Supply Changes (2017-2023) Source: Westwood RigLogix However, this is expected to be short lived with Petrobras in the market with several long-term floater

State of offshore rig market is all about rig supply

Nearly 200 rigs have already left the global offshore fleet, either for recycling or conversion, since 2014. The majority of these rigs have been

Rystad Energy analysts forecast a historical high of floater

Rystad Energy''s latest research indicates that 88 units within the floater market will have to be taken out between 2015 and 2017, making it the largest ever retirement cycle in the

Westwood Insight – The offshore rig market recovery

Offshore Rig Supply Changes (2017-2023) Source: Westwood RigLogix However, this is expected to be short lived with Petrobras in the

8.4.3.2: Semi-Submersible Rig | PNG 301:

A Semi-Submersible Rig or a " Semi-Sub " or a " Semi " or a " Floater " is a drilling rig that is used to drill wells in water depths inaccessible to jack-up rigs (water

World oil and gas industry faces rig overload in 2017

Mr Durham said the delivery of 112 new-build jack-ups would be rolled out globally from the second quarter of 2017. With 32 older jack-ups heading for retirement this year, this

Rystad Energy analysts forecast a historical high of

Rystad Energy''s latest research indicates that 88 units within the floater market will have to be taken out between 2015 and 2017, making it the

Analyst finds monthly rig contracts down in the Gulf of Mexico

Meanwhile, Stena''s DrillMAX, Ocean Rig''s Poseidon, and Noble''s Paul Romano were all extended to 3Q, but Maersk Drilling''s Viking is now contracted to December. Of the

Floater utilization hits 90% for first time since 2014

Global floater drilling rig utilization reached 90% in early December 2023 for the first time since 2014. Floating utilization is up 25 percentage points since 2020, supported by a

Who owns what in the Drilling Asset Market

Last year marks the first time since 1999 that Transocean was not the largest offshore drilling contractor in the world. In 2016, Transocean held the top spot with 67 units. But during 2017,

Investor Presentation February 2020

CJ70 (1) Excludes drilling contractors that have drilled less than five wells during the period 1990-2018. Excludes well drilled by drilling contractors not specified (i.e. ''unknown''). Excludes wells

2018

SUMMARY 2018 was another tough year in the floater drilling market. Nevertheless, we stayed our strategic course, developing and deploying innovation to lower the total cost of ownership

World Floater Market Is Stable

The floating rig market was showing signs of stability in many of the world''s major drilling basins. However, reports Offshore Data Services, demand for older, second-generation

Upbeat outlook for Africa''s offshore rig market as

Despite this, the floating rig fleet has not gained back the activity level it enjoyed before the downturn. Today, drillships dominate Africa''s floater

Definitions of Various Offshore Drilling Rig Types and

A semi-submersible drilling rig is a floating drilling rig that is capable of working in water depths ranging from shallow through to ultra-deepwater.

Review on Fixed and Floating Offshore Structures.

The applications of these offshore structures require different activities for proper equipment selection, design of platform types, and

Offshore drilling woes to last through 2017, Moody''s says

Noting that floater demand was sagging in early 2014 when the oil price remained near $100/bbl, Moody''s says a revival in deepwater and ultradeepwater drilling is unlikely through 2017.

Global Floating Drilling Rigs Market Trends

Global Floating Drilling Rigs Market Insights Forecasts to 2033 The Global Floating Drilling Rigs Market Size was Valued at USD 28.68 Billion in 2023

Transocean Ltd. Provides Quarterly Fleet Status Report

The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and believes that

Drilling market remains tough, but floaters see slight

While the offshore drilling market remains challenging, demand for floating units may be seeing something of an uptick, according to Evercore

Dayrate discipline will be tested Sector: Rig

Sector: Rig With slipping estimates and demand recovery pushed out in time, this fall feels like a déjà vu of last year for the deepwater drillers - leaving investors frustrated. While we expect

Newbuild drillship and semi-submersible delivery deferrals at an

Not long ago, when S-curves were monitored 24/7, the biggest concern for owners of under construction drilling rigs was that the shipyard wouldn''t deliver on time. Today,

Worldwide floater drilling rigs not delivered 2017 [PDF]

6 FAQs about [Worldwide floater drilling rigs not delivered 2017]

How much are floater rigs worth?

In today’s market, values for these rigs are estimated to be in the $200–400 million range – well below original newbuild cost. As floater utilization is set to remain low due to the lack of demand for deepwater drilling and the influx of newbuilds, values are not expected to rebound materially in the near term.

Will the rig market be SLO?

levels seen in the last 20 years. In 2018, rig demand decreased by ~3-4% from 2017, dow to 300 jackups and 129 floaters. Despite the decrease in demand, the industry is seeing ome reactivation of premium rigs. While these low levels still represent a modest improvement over the last few years, we estimate the market will be slo

How much are floaters worth?

All of the floaters under construction were contracted with yards at prices ranging from the lower $500s to well over $600 million. In today’s market, values for these rigs are estimated to be in the $200–400 million range – well below original newbuild cost.

How many jackups & floaters are there?

to 300 jackups and 129 floaters. Despite the decrease in demand, the industry is seeing ome reactivation of premium rigs. While these low levels still represent a modest improvement over the last few years, we estimate the market will be slo to recover over the medium term.Operators have not increased their ofshore exploration capex

How did rig demand change in 2018?

n to USD60-65/bbl by end of year. While there were some early gains in the rig count in 2018, this year’s market starts with some of the lowest activity levels seen in the last 20 years. In 2018, rig demand decreased by ~3-4% from 2017, dow to 300 jackups and 129 floaters. Despite the decrease in demand, the industry is seeing

What are the cancelled drill rigs in Korea?

Additionally, the three Korean yards have four cancelled rigs among them: drillship Pacific Zonda (Samsung); semi Bollsta Dolphin (HHI); semi West Mira (HHI); and drillship Cobalt Explorer (DSME). All of the floaters under construction were contracted with yards at prices ranging from the lower $500s to well over $600 million.