Looking for a specific product?

Make a search for products & suppliers, articles & news.

Rush for rigs

Desperate oil companies forces day rates for drilling rigs to reach new heights. Analysts believe day rates will be over $700,000 this autumn.

Contracts are pouring into the rig market and the day rates for the most advanced drilling rigs are reaching the top levels of 2008. “The rush has just begun”, says analyst Martin Huseby Karlsen in DNB Markets, Dagens Næringsliv writes. The oil companies are desperate and rates will continue to climb in course of the autumn, the paper writes.

Huseby Karlsen points out that the market is now about to be emptied. There are almost no vacant rigs in the ultra-deepwater market in 2013.

The analyst believes that most important for the rig rates and development in both the rig and oil service stocks is that oil prices remain stable, and above 75 dollars a barrel. Then the market will become even tighter, he believes.

Norway earlier this summer announced the 22nd License Round, where 72 out of 86 blocks are located in the Barents Sea. “The Barents Sea is now a Sea of Opportunities”, Minister of Oil and Energy Ola Borten Moe said during the announcement.

Related news

Latest news

Chairman of IACS pinpoints three key themes of the Association’s strategy for the future

Commenting on the publication of the 2017 Annual Review, 

DNV GL launches alternative fuels white paper

For newbuilding vessels,

MINSHIP Shipmanagement boosts digitalization with DNV GL

MINSHIP is optimizing processes as they are managing a growing fleet. 

The fully electric Future of The Fjords has been launched

The new build is 42m long, 

Winner of Norwegian Export Award 2018 Announced

Airthings is the winner of the Norwegian Export Award 2018. 

Why going in circles is good

In fire detection systems for explosive environments,

Here is AKVA group’s first hybrid feed barge!

Protecting the environment is our main reason to invest in this technology. 

New Display Technologies Enable the Naval Vessel Bridges of the Future

Hatteland Display's cutting-edge display solutions on show at Sea-Air-Space 2018 enable a new data-centric approach to vessel and strategic operations.

Steinsvik Group and Aqualine – collaborating on future solutions

Aqualine is a R&D cage system supplier of cages,