Offshore rig contracting momentum continues to build

In January, 55 rig contracts were confirmed, according to Evercore ISI’s latest “Offshore Rig Market Snapshot.” This is up 19 from a year ago for the fifth highest monthly total since 2014.

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In January, 55 rig contracts were confirmed, according to Evercore ISI’s latest “Offshore Rig Market Snapshot.” This is up 19 from a year ago for the fifth highest monthly total since 2014.

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With four of the top five monthly fixture counts taking place in the past 12 months, the analyst said, offshore rig contracting momentum is clearly building. If the YTD pace of activity extends through 2019, contracting activity is on track to increase another 27% in 2019 (+30% jackups, +20% floaters).

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