EnergyWatch

Weak drilling industry keeps numbers to itself

A review from Morgan Stanley shows that rig companies have only announced the prices on seven out of 40 contracts over the past four months.

Photo: Maersk Drilling PR

In the offshore drilling industry, transparency and prosperity have been replaced by downturn and secrecry.

Maersk Drilling and other industry peers used to announce contracts in detail while the industry boomed and they were awarded projects from oil companies which leased drilling rigs and vessels for daily rates reaching upwards of USD 700,000. This enabled observers to keep track of contract coverage at the companies.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Norway awards more than 50 new oil licenses

Norwegian oil giant Equinor has received almost half of the new licenses on the Norwegian continental shelf where there is still significant interest in new oil and gas deposits.

Further reading

Related articles

Latest News

See all jobs