Jack up drilling rig day rates

Upstream Solutions | S&P Global

Following our merger with IHS Markit in 2022, Upstream Solutions from S&P Global Commodity Insights offers trusted data, software, and insights for energy companies, governments, oilfield

Rising day rates, utilisation drive rosier outlook for OSVs

Rising OSV rates and utilisation The supply of both jack-ups and floaters is clearly tightening. Shipbroker Lorentzen & Co reported jack-up

Offshore drilling highlights: Top paid rigs in 2H 2023

After pouring over the available day rate information within fleet status reports from three offshore drilling giants – Transocean, Noble Corporation, and Valaris – three rigs stand

Westwood Insight – Offshore drilling upcycle continues, but 2025

2024 brought some additional clean (that is, excluding additional items such as MPD or integrated services) floating rig rates above $500,000 per day, as well as the first rate

Horizontal Directional Drilling (HDD)

Production rates vary based on ground conditions, pipe diameter, and drilling length. Modern guidance systems and drilling technologies have improved

ONGC set to hire ten jack-up rigs amidst tight supply and soaring rates

A tender to charter 12 jack-up rigs saw offers for ten rigs with prices quotations 40-45 percent higher than previously finalised contracts.

PT Apexindo Pratama Duta Tbk

The new jack-up rig Soehanah is one of super premium jack up rigs worldwide built based on PPL Shipyard''s proprietary design, the Baker Marine Pacific 375 Class. This

Where next for jack-up rates?

Analysis of RigLogix data shows that recently, jack-up day rates around the world had risen to slightly above operating costs, allowing rig owners to finally make a little profit.

Westwood: 2023 shaping up to be a busy year for offshore rigs

Westwood forecasts global marketed offshore rig utilisation to average 95 per cent this year with day rates getting a further boost.

Offshore rig operators'' profits to rise 30-35% in FY26

The study, covering domestic jack-up rig operators accounting for around 50% of domestic supply, stated that sustained demand and muted

Valaris Retires Three Semi-Subs, Sells One Jack-Up

Offshore drilling company Valaris has decided to retire three semi-submersible drilling rigs from its fleet as part of its fleet rationalization efforts,

Day rates in Asia-Pacific on the up | S&P Global

For jackups, global rates for units are clustered around the $130,000 -$140,000 mark with some units approaching $150,000 per day. The

Borr Drilling targets $149K average day rate in 2025 amid

Borr Drilling reports strong Q4 2024 results with higher day rates and solid 2025 contracts. Explore their outlook, challenges, and market strategies.

Petrodata Weekly Rig Count | S&P Global

The information provided and much more data on the offshore rig fleet can be sourced via the S&P Global proprietary offshore rigs information products,

Offshore vessel day rates slip as market softens

Offshore drilling equipment fared no better in H1 2025. High-spec jack-up day rates were down 13%, averaging US$116,530, while ultra-deepwater floater day rates were down

Jackup day rate worldwide by region 2018| Statista

This statistic shows the average annual jackup day rate worldwide from 2015 to 2018, by region. A jackup rig is a mobile oil and gas drilling rig

Rig Dayrates Have Risen, So Where are the New rig Orders?

According to jack-up owners, an acceptable 15% ROI for a newbuild with 90-95% utilization would require a dayrate of $200,000-$230,000 over the useful life (~25 years) of the rig.

U.S. day rates extend slump, but most drillers foresee busier H1

U.S. drilling day rates took a tumble in 2024, finishing the year lower than they began for the first time since the COVID-19 pandemic. The Enverus Day Rate Survey''s U.S.

Low dayrates shock bidders at Asian giant''s latest tender for

The Indian state giant operates a fleet of more than 30 offshore drilling units and is the largest operator of jack-up rigs in South Asia.

Offshore Drilling Rigs Market Analysis, Industry Trends,

Notably, Jindal Drilling & Industries secured a significant contract with ONGC for the deployment of the Jack-up Rig Discovery I, symbolizing active engagements in offshore

OPINION | Offshore drilling upcycle continues, but

Meanwhile, the demand weakness we are seeing for jackups and drillships is showing up closer to the end of the year; therefore, both will record

Westwood Insight – Offshore drilling upcycle continues, but 2025

For 2025, Westwood is forecasting a lower marketed committed utilisation rate of 89%, with the semisub market to be the hardest hit of the three rig types. Westwood''s top

Report: Rig dayrates on the rise in Southeast Asia | Offshore

Bruce Beaubouef * Managing Editor Dayrates for all types of rigs in Southeast Asia are witnessing robust growth, demonstrating an increase in demand and tightening supply,

2024 offshore drilling outlook: Westwood''s top three

The offshore drilling market has been reaping the benefits of the ongoing upcycle, as rising demand and tightening supply brought higher day

Offshore drillers see tightening rig market, increasing day rates

Signs of an improving global offshore drilling market appear to be flourishing, with longer contract durations not seen in years, rising day rates and upstream customers asking to secure rigs

Rising day rates, utilisation drive rosier outlook for OSVs

Rising OSV rates and utilisation The supply of both jack-ups and floaters is clearly tightening. Shipbroker Lorentzen & Co reported jack-up drilling rig utilisation is up 8% year-on

Despite higher day rates, new rig orders not on the

The ongoing upcycle in the offshore drilling market, which is expected to be a multi-year one, has resulted in higher day rates and fleet

Clarksons Research: Offshore oil and gas vessel

In turn, rig rates continued to strengthen; ''leading edge'' floater rates surpassed the $500,000/day mark in Q4, while high-spec jack-up

Jack up drilling rig day rates [PDF]

6 FAQs about [Jack up drilling rig day rates]

Why is the jackup rig market rising?

The heated global jackup rig market has day rates for premium units climbing higher. The jackup market is experiencing increased activity and higher day rates.

How much does a jackup cost per day?

For jackups, global rates for units are clustered around the $130,000 -$140,000 mark with some units approaching $150,000 per day. The highest day rates for APAC are currently registered at $151,000 in SEA and $180,000 in Australia. Jackup day rates are expected to exceed $160,000 in SEA before the end of the year.

What are jackup day rates?

Jackup day rates are on the rise, with leading-edge day rates for premium jackups now in the $160,000 range, with some harsh environment jobs reported in the $200,000 range. The average fixture day rates for the first half of 2023 were $106,017, as compared to $84,238 in the same period a year ago.

Are jackup rigs experiencing an upcycle?

The jackup market is experiencing increased activity and higher day rates. The current upcycle in the offshore drilling market is not limited to the floaters, as the global jackup rig fleet is seeing a marked increase in both activity and day rates, according to Matthew Donovan, a senior rig analyst for Esgian.

How much does a drilling rig make a day?

Offshore drilling rigs typically earn between $200,000 and $600,000 per day, depending on the type of rig, location, and market conditions. Deepwater rigs and those operating in harsh environments generally command higher rates. What are the costs of drilling?

Will jackups & drillships go up in 2024?

Meanwhile, the demand weakness we are seeing for jackups and drillships is showing up closer to the end of the year; therefore, both will record 2024 average leading-edge dayrates above their 2023 averages, with jackups up about eight per cent and drillships up around 15 per cent.

Mining Drilling Rigs Inc.