The deepwater oil and gas market is currently in a transition phase, with lower oil price colliding with market dynamics leading to increased uncertainty. The deepwater drilling and rig market, which has seen an oversupply of rigs due to an unprecedented build out coinciding with lower oil prices faces greater uncertainty than any almost any other market segment.
The deepwater rig market is currently highly volatile, drilling contractors are struggling to place newbuild rigs despite rapidly declining day rates - while new rigs previously delivered continue to saturate the market.
The changes taking place now in the deepwater drilling sector have long term implications across the deepwater supply chain, understanding these implications will allow companies to best position themselves for the future of this market. Quest's new "Deepwater Drilling and Rig Report, Reassessing Deepwater Strategies in a Dynamic Market" highlights the key trends in this market, analyzes their implications and, provides companies with the insight needed to navigate the changing deepwater market.
This report combines Quest's industry leading deepwater exploration and development data with rig supply to answer questions like,
- What will rig supply look like in the long term? How many rigs will leave the market?
- When will day rates stop falling? How low will they fall?
- How many deepwater wells will be drilled in the coming years? What are the long term implications of this on the deepwater market?