Offshore drillers have not totally escaped the industry downturn, but
cutbacks seem to be markedly less than with their land-based peers. The
top offshore operator, for example, is down only 14% in rig count, while
another top-10 player actually increased rig count from 46 to 47.
Numbers from IHS Petrodata show the total worldwide inventory of
floating and jackup rigs shrinking by 43 units from 2014 to 2015, with
the most damage in Latin America. The Mideast, in contrast, added four
rigs in 2015 as a result of long-term charters and Saudi Arabia's
decision to increase output. And rigs under construction? They are up
from 180 in 2014 to 184 last year, once again proving that optimists rule the drilling industry.
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