The demand for offshore rigs is expected to grow in the coming years, despite scores of assets currently sitting idle.
Transocean has hailed a “monumental achievement” in striking a deal with shipyard owners to defer $460m payments on two new-build drillships.
The “psychological ceiling” of $200,000 day rates for offshore drillships will be broken “more routinely” now that the market has reached pre-Covid levels.
Use of offshore drilling rigs globally has seen the largest monthly drop in 20 years, according to analysis from Rystad Energy.
Transocean said it has agreed to acquire all of the outstanding common units of Transocean Partners in a share-for-unit merger transaction.
Transocean has won a contract for its GSF Constellation I drillship in the United Arab Emirates (UAE). The win comes after the company said yesterday it had agreed with oil major Shell, to delay two drillships both by 12 months. The dayrate for the drillship will be $104,000.
Transocean and oil major Shell have agreed to delay the operating and delivery contracts for two newbuild ultra deepwater drillships by 12 months each. The company said the agreement had been struck between itself, Shell and Daewoo ShipBuilding & Marine Engineering. The decision affects the Deepwater Pontus and the Deepwater Poseidon.
Seadrill has delayed delivery on 10 of its new-build projects as it saw profits fall as more of its fleet lay idle due to declining oil and gas activity.