Thursday 25 July 2019

The U.S. Gulf of Mexico drillship market is currently in quite an enviable position. RigLogix's data shows that as of mid-July, marketed utilization of the 25-rig fleet stood at 96%, with 24 units either working or committed to begin contracts in the next few months. And, with it rumored that the lone stacked unit may be cold stacked shortly if work is not secured, the fleet could soon find itself with 100% utilization. By comparison, just one year ago in July 2018, contracted utilization stood at just 76%.

More information here.