2011 Newbuild Rig Analysis

RigZone is out with their 2011 outlook on Deep and Shallow water newbuilds on order from exploratory drilling companies worldwide. They write:

2011 Newbuild Drillship, Semi and Jackup analysis chartWith utilization rates in the high 60th percentile worldwide, offshore rig demand is at a 5-year low. Nevertheless new rigs will hit the market this year to meet the demand for oil and gas exploration and production. Rig orders predominantly placed from 2006-2009, near the top of the offshore rig demand cycle, are ready for delivery over the next 12 months.

Looking ahead at 2011, there are 54 total rigs due to be delivered this year, down three from last year. Only 29 of those are contracted at this time. This number includes 21 jackups, 13 semisubmersibles, and 20 drillships. Continue Reading...

Also of interest is their article “Top Pay For Top Pros”, which looks at executive pay in the offshore O&G industry…. check it out.