Tag Archives: offshore rigs

Tuesday was a day of dichotomy for the notion of operational scale in offshore drilling. Even as one drilling contractor paid penance for scale bought long ago, two others ignited the next round of consolidation, extolling the virtues of operational scale in this disaggregated sector. Taken together, these two news items …

If deepwater rig demand were to begin its ascent today, it would be met with a glut of rigs that would render the impact on dayrates, and indeed contractor bottom lines, relatively impotent. If more rigs aren’t removed from the structural oversupply before demand moves higher, drilling contractors are at risk …