offshore rigs - bassoe.no · 42 22 6 14 total rig sales for drilling operations 7 major transaction...
TRANSCRIPT
OFFSHORE RIGS2018: THE YEAR IN REVIEW
WTI Brent
January February March April May June July August Septem.. October Novem.. Decem..40
65
90Oil prices
4222 6 14
total rig sales for drilling operations
7major transaction announcementsBorr acquires Paragon;
$235m
Hayfin/Transoceanacquire the West RigelHE semisub for $500m
Odjfjell acquires StenaMidmax HE semisub for $505m
Borr acquires five newbuildjackups for $745m
Northern Drilling acquirestwo 7th gen drillships for
$296m each
Transcean acquiresOcean Rig; $2.7b
Ensco and Rowanannounce merger
March
April
April
May
May
September
October
9other transactions Stena Clyde
(SS, $11m)
DeepseaMetro I
(DS, $262.5m)
Drill Force I(JU) from
North StarOil
Noble JohnnyWhitstine
(JU, 93.75m)
Soehanah(JU, $84m)
OceanScepter
(JU, $68.5m)
3 jackups($83m)
Vantage 260(JU, $5.1m)
2 jackups($77m)
Excludes Ensco-Rowan - deal did not close in 2018
0
10
20
30
40
Rig type
# of
rigs
scr
appe
d
64%
Jackups Semisubs Drillships
J.. F.. M.. A.. M.. J.. J.. A.. S.. O.. N.. D..40
60
80
Mar
kete
d ut
iliza
tion
(%)
54 rigs sold for scrappingor conversion
utilization
10
39
5
241 years ofbacklogadded 14
12
12
10
10
8
8
178
36
27
Top 10 countriesadded 184 (76%) ofthe 241 years oftotal backlog added
Excludes minor extensions
73 2421
15
12
5 5
5
5
19
Dayrates not yet rising
62,000
125,000
165,000
0
82500
165000
Average estimated dayrates ($; ex harsh environment)
Source: Bassoe Analytics
Rig values Average quarterly values
Values for individual rigs in Bassoe Analytics may vary from the data in this chart
bassoe.no/analytics
UDW Drillships
6th gen 7th gen
2015 2015 2015 2015 2016 2016 2016 2016 2017 2017 2017 2017 2018 2018 2018 2018150
275
400
6th gen semisubs
Harsh env. Benign env.
2015 2015 2015 2015 2016 2016 2016 2016 2017 2017 2017 2017 2018 2018 2018 2018100
300
500
Premium jackups (less than 5 years old)
350 ft IC 400ft IC
2015 2015 2015 2015 2016 2016 2016 2016 2017 2017 2017 2017 2018 2018 2018 201850
125
200