This article by Trent Jacobs, published on the latest JPT, gives some insights about the tight offshore rig market, which is becoming even tighter.
According to a new report from Westwood Global Energy Group, “It appears the true extent of this tightening market is still not always being accurately represented across the industry”, as all three segments of the business - jackups, semisubmersibles, and drillships - show a contracted utilization rate below 85%.
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