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

BP Awards Schlumberger Contract for Mad Dog 2 Project

Export Conference 2017: A changing world

Register for this year’s most important conference for Norwegian exporters. We can promise you an interesting and inspirational day!

Meet Elkem Silicon Materials at the Ceramics Expo 2017

Elkem Silicon Metrials invites to meet their team at the Ceramics Expo 2017. This is North America’s largest, free-to-attend exhibition for Ceramic manufacturing and applications.

Event - TechnipFMC at Gastech April 4

Most ship owners are now looking very closely at the benefits that digitalization can bring in operational gains.

Deepocean Awarded Surf Contract from BP for the Foinaven Field

DeepOcean today announced that it had received a call-off under its new Master Service Agreement (MSA) with BP Exploration Operating Company Ltd.

Parquet Floor - a Furniture in itself

Read how a Nordic style, maintenance free new floor is a furniture all in itself. 

Haavik in as Sales Director

Tor Henrik Haavik enters the role as Sales Director in Steinsvik AS. Haavik has an engineering education from Høgskolen i Haugesund and has been employed in Steinsvik since 2002. Haavik comes from the position of Sales Man...

Powder Characterization Experts Offer Solutions to Optimize Process Performance

Freeman Technology, the powder characterization specialists, will be exhibiting at the Ceramics Expo for the first time (25 – 27 April, Cleveland, OH, USA). The company offers material characterization solutions aimed at o...