Maersk Drilling has noted a slowing in the international rig sector, with the deepwater segment being particularly hard hit, it says.
While the international market for premium jackups is still benefiting from a preference by oil companies for newer rigs with better safety performance and drilling efficiency, the news is not so good for the ultradeepwater segment, it states. “The ultradeepwater market is experiencing a slow-down due to oil companies postponing several drilling programs and at the same time many new rigs are entering the market. Consequently, Maersk Drilling experiences increased competition for longer-term jobs, especially in 2014 and 2015,” the drilling contractor declared in its first quarter results statement.
Nevertheless Maersk said it is maintaining its long-term positive outlook for the ultradeepwater rig market.
Recommended Reading
Targa Expects Another Major Permian Pipeline Project This Year
2024-05-03 - Targa Resources says different projects are falling in place for gas capacity expansion
US Appeals Court Upholds FERC Approvals for Gas Pipeline Expansion
2024-05-02 - A unanimous three-judge panel of the U.S. Circuit Court of Appeals for the D.C. Circuit held that the Federal Energy Regulatory Commission was right to determine the Evangeline Pass Expansion project is functionally separate from four related gas infrastructure developments.
Enterprise Targets FID for SPOT Project by End of 2024
2024-05-01 - Enterprise Products Partners’ co-CEO disputed capex figures reported in the media regarding its Sea Port Oil Export Terminal.
US Reforms Green Law to Speed Clean Energy, Infrastructure Permits
2024-04-30 - The reforms are the second and final phase of adjustments to the National Environmental Policy Act, or NEPA, by the Biden administration.
Canadian Railway Companies Brace for Strike
2024-04-25 - A service disruption caused by a strike in May could delay freight deliveries of petrochemicals.