DRILLING MARKET FOCUS: Rig rates rise; fleets active in Venezuela

High demand for rigs may drive operators to defer planned drilling programs until rigs come available or can be mobilized from other areas.Mobilization fees for offshore rigs can add substantially to well costs and carry the risk of damage or loss during transport. The demand continues to keep the shipyards busy with newbuild contracts and upgrades as retired rigs are activated.The market for semisubmersibles is currently the softest; ODS-Petrodata forecasts increasing demand through the year as well as continued idle capacity. Fleets continue to change hands as drilling contractors realign their markets.Rig counts, North AmericaThere was a substantial year-over-year increase in the numbe...

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