DRILLING OUTLOOK
The rest of the Golden
Triangle Another hub of the Golden Triangle
– the US Gulf of Mexico (GOM) contin-
ues to be the leader in terms of dayrate
movement. Rates for drillships in the
region have reached as high as $440,000
Active Rigs
Drillship Utilization
Semisub Utilization
Total Rigs
Jackup Utilization
Tender Utilization
100% 90%
100 80%
70% 80
60% 50%
60 40%
40 30%
20% 20
Committed Utilization %
120 Rig Count
ding regime required winning companies
to sign production-sharing agreements,
which adopt a split profit system where
the government and the winning company
agree to a share of the profits generated
from a block.
“With Brazil, we’re seeing the reports
every so often that show more and more
operators being approved to bid there, so
there’s clearly an interest from outside
operators,” Mr Childs said. “Also, given the
amount of production there, there’s no rea-
son to think that operators won’t continue
to be interested. They will definitely want
to operate there as long as the terms from
the government stay favorable in their
view.” 10%
0% 0
Jan-22 Feb-22
Mar-22 Apr-22
May-22 Jun-22
Jul-22 Utilization in the Asia Pacific region has increased across all rig types in the first half
of 2022 and is expected to keep increasing in 2023, according to Westwood Global
Energy Group. However, this is due in part to a drop in available supply, with several
jackups moving from Southeast Asia to the Middle East.
($480,000 including MPD services), while
dayrates for jackups are around $85,000.
Mr Childs believes rates for both rig types
will increase in 2023 – drillships could
reach $500,000, while jackups are likely to
see rates in the $90,000s.
The increase in dayrates have been
primarily driven by a limited rig sup-
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DRILLING CONTRACTOR • NOVEMBER/DECEMBER 2022
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