Nearly 34 years of jackup contract backlog has been added since the start of the year, but utilization has fallen slightly. Most recently, ONGC announced six awards for its Cat. 1 tender (three more awards for Cat. 2 are expected shortly) and various contracts were handed out in other regions since our last report.Â
Dayrates have not increased in most markets, but we see fixture rates and utilization moving up during the first half of the year as more contract awards firm up.
No jackup sales closed since our last report, and rig values remain lower after the recent pullback as a prolonged lack of market confidence weighs them down.
Photo for illustration only
If you like what we do then let us know by becoming a patron through Patreon, for as little or as much as you would like!
Hit the button below!
Check out our other current stories!
