OFFSHORE DRILLING RIGS MARKET ANALYSIS

Market News

Key Developments:

For instance, in September 2018 Transocean acquired Ocean Rig UDW, an ultra-deep-ater drilling specialist for a value of US$ 2.9 Billion. This acquisition has added nine high-specification ultra-deepwater drillships, two harsh environment semi-submersibles, and two high-specification ultra-deepwater drillships to the Transocean’s portfolio.

In December 2018, Transocean singed contract with Chevron USA, Inc. to build, design, construct, and deliver Ultra-Deepwater Drillship for 20,000 psi operations and is expected to commence operations in the Gulf of Mexico in the second half of 2021. This new drillship is having most advance technology including dual 20,000 psi blowout preventers, net hook-load capacity of three million pounds, 165-ton active heave compensating crane, and an enhanced dynamic positioning system.

For instance, in April 2019, Ensco merged with Rowan and created a new company name Ensco Rowan. Now Ensco Rowan has 82 rigs in its fleet including 28 floating rigs (semi-subs and drillships) and 54 jack-ups.

In July 2018, Shelf Drilling acquired Diamond Offshore’s Ocean Scepter jack-up rig for US$90 million. The jack-up rig is used in the Middle East for offshore drilling.

For instance, in February 2018, Borr Drilling acquired Paragon Offshore for $232.5 million. This acquisition has added 32 drilling rigs to the Borr’s portfolio.