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6 FAQs about [Australia offshore drilling rig day rates manufacturer]
What is Westwood's outlook for the offshore rig market?
Wilkie outlines that Westwood’s overall outlook for the offshore rig market remains highly optimistic, albeit with the potential for more availability during the first half of 2024.
How much does a drillship cost per day?
While regions like the Indian Ocean and SEA have benefited from using older/smaller and cheaper units, the demand for newer, premium units is on the rise and supply for such units is also running low. Globally, day rates are approaching $500,000 per day for drillships and exceeding $400,000 for semis.
Who are the 'Big 3' offshore drillers?
By Bruce Beaubouef, Managing Editor The “Big 3” offshore drillers – listed as Transocean, Noble Corp., and Valaris by Evercore ISI – are all reporting “strong offshore fundamentals and a robust outlook” that will likely stretch out to 2030, according to a recent report by the oilfield marketplace consulting firm.
How many UDW rigs are there in West Africa?
The report added that West Africa currently has about 18 contracted UDW rigs (a slight decrease from last year), which is currently being led by Angola with seven rigs. Evercore also noted that “there are many offshore projects in the pipeline expected to reach FID over the next several years across Mozambique, Ghana, Nigeria, and Namibia.”
Will rig utilization increase in 1h 2024?
With the anticipated rise in demand, and despite higher availability expectations in 1H 2024, marketed utilization is forecast to reach as high as 96%, resulting in a limited choice of rigs for new deals.
Will rig prices fluctuate in 2024?
On an overall basis, this is expected to be a short-term fluctuation until operators firm up their 2024 budgets and drilling plans. With many now making bigger commitments for longer-duration contracts, it can take more time to choose the most suitable rig and execute a deal.


