RigLogix has contacted a number of rig owners and operators and the consensus seems to be that it’s going to get worse before it gets better, especially if current conditions persist.
Significant cost reductions have improved E&P cashflows and should drive increased offshore tendering activity in 2020. Pricing is expected to remain competitive, however, and contractors will need to remain focussed on profitability.
Argentina’s Vaca Muerta to provide the cornerstone for rising rig demand in Latin America, despite economic woes
Latin America has emerged as one of the focus regions for rig demand growth over...