Infill Thinking Lifting the O&G knowledge curve
Just a few months ago, US land rig management teams were still touting their long-term contracts as an asset. Highlighting backlog and term duration is a defensive posture contractors assume when operators have pricing power.
Rig count can rise. Dayrates can trough. But until management teams start talking about spot exposure like an asset, it’s still a buyer’s market.
During much of the downturn, there actually was no spot market for land rigs – demand was negative. At this moment (for the first time in two years) we are starting to hear contractors talk about spot exposure as an asset again…
There’s a lot more to this story…
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