Deep Water Drilling

I am interested in the dynamics of Deep-water Drilling and related field infrastructure. The industry is now in its third year of the worst down turn in its history. Some firms have gone bankrupt, others are trying to consolidate the industry. Rigs of all kinds are oversupplied, a significant number should be scrapped. Day rates, across all types of rigs have plummeted along with the price of oil.

At the same time, some significant formations are being discovered off the coast of South America, Mexico, West Africa, and Australia. These fields will need DW rigs to prove and exploit those finds. The IOC's have under invested and now have the lowest reserve ratio of the last 20 years.

What insights can the Oil.Price community share on the dynamics of DW Drilling and the related field infrastructure. All comments and thoughts are welcome.

 

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Got it! I also read Rig Trends, Offshore Energy Today, Upstream online, Offshore World, and the list goes on...

I guess my comment is that there is lots of data, news, and noise, not much insight.

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