Top 10 Drilling Contractors Oil, Gas Professionals Want to Work For
“Ultra-deepwater rigs accounted for the bulk of fixtures and were geographically disperse with awards in mature and frontier basins,” Cook added.
Despite improvements in the sector, however, the Wood Mackenzie representative believes that challenges remain for offshore oil and gas drilling contractors in 2018.
“Day rates will continue to troll along the bottom, through the first half of 2019, due to excessive over supply and the desire to keep rigs in operation,” Cook said.
Also, “hot or operating assets will continue to be favored over rigs that have been stacked for multiple months, therefore contractors will compete very aggressively to win new work,” the Wood Mackenzie analyst added.
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