North sea drilling rig rates

Operators consider novel rig deals to limit day rates

Offshore staff LONDON — Offshore rig rates hit a nine-year high last year, according to a report from Westwood Global Energy Group

North Sea Offshore Market Weakness: Implications

Uncover the factors contributing to the North Sea offshore market''s decline and its impact on vessel rates. Learn why anchor handlers remain

Report: ''Big 3 offshore drillers'' reporting increasing day rates

Day rates for both floaters and jackups are on the rise, Evercore said. The primary drivers of higher rig day rates are tight rig supply; drillers remaining disciplined about rig

Rig demand, dayrate movements point to recovery in North Sea

Although the North Sea rig count is not expected to grow significantly over the next year, signs of an improving market are afoot, particularly for semisubmersibles.

Drilling day rates up in N. Sea

Offshore drilling rig day rates strengthened for the North Sea jackup market, but remain unchanged from last month in other offshore rig markets. High-fleet utilization jackups

North Sea trends could cause drift of semisubmersible rigs to

While there are big P&A opportunities in the UK North Sea (more than 2,200 wells set to be plugged and abandoned between 2024 and 2033, 39% of them subsea), operators have been

North Sea rig rates lower ''than the rest of the world'',

More than 30 jack-up rigs have left Europe, Asia and the Americas for better opportunities in the Middle East in the last year, the North Sea

Offshore drilling and completion inflation expected to

Accordingly, Wood Mackenzie has revised our offshore well demand and rig rate forecasts downwards. After two straight years of greater

Westwood Insight – The North Sea semisub market may seem

The North Sea semisubmersible (semisub) market hit 100% utilisation at the height of summer this year, however the reality is that shrinking supply has accentuated this,

North Sea rig rates rising as market recovers, contractor claims

ABERDEEN, UK – Demand for modern high-end semisubmersible drilling rigs remains strong offshore Norway, according to Awilco Drilling. There is only limited available rig

Westwood Insight – Offshore drilling upcycle continues, but 2025

Westwood expects the semisub segment to lose the most of the three rig types next year, as this rig segment continues to fall out of favour in most floating rig regions, with the

Borr Drilling CEO Highlights Lower North Sea Rig Day

The CEO of Borr Drilling, Patrick Schorn, has expressed concern over the low day-rates that drilling contractors are receiving for leasing their

Floating rig rate rise slowing, but raw material prices set to increase

Floating rig rate rise slowing, but raw material prices set to increase Although rig rates for floaters remain high, there are signs that growth is slowing down, according to Wood

Rigs, Rates and Recapping 2Q

The majority of Shelf''s best jackup rigs were collateral on the Shelf North Sea (SHLFNS) subsidiary bonds, leaving SHFLDI with a comparatively older fleet and meaningful

Global Offshore Drilling Rig Dayrate Forecast

Westwood''s Global Offshore Drilling Rig Dayrate Forecast 2024-2028 report provides detailed insight on historical offshore drilling rig dayrate

Offshore Rig Dayrates ''Quickly Heading'' to $400,000

For Britain and Norway, the main North Sea producers, the contracted rig count stood at 40 in April, up from 37 at the end of 2020 but below 51 before the pandemic, Esgian

BP Books Noble Rig for Carbon Storage Gig in North Sea

The agreement involves the Noble Innovator jack-up rig drilling six firm wells, with an option for two additional wells, starting in the third quarter of 2026. This follows the rig''s

Westwood Insight

As a result, some rig owners have begun marketing jackups into other regions, making it probable that additional rigs will leave the area this year. Despite the potential North