(EnergyAsia, December 9 2010, Thursday) — US consultant ODS-Petrodata has predicted that the upstream oil industry will face a shortage of premium jackup rigs by 2015.
In its “Jackup Rig Market Report: 2010-2018”, the Houston, Texas-based company said it reached this conclusion after a detailed study of three categories of the rig markets: premium jackups (independent leg units with rated water depth of more than 300 ft), commodity jackup rigs (independent leg units with rated water depth of 300 ft or less), and mat-supported units.
This premier edition of the report is a partial successor to the “World Rig Forecast: Long-Term Trends Report”, which had focused solely on the issues associated with the long-term demand and supply trends of the global jackup rig market through the end of 2018.
In the latest report, ODS-Petrodata said its analysts presented market developments throughout the rise and fall of commodity pricing and government regulations.
“Our analysis predicts a widening divergence in demand between the premium and commodity jackup rigs – leading to a possible shortage of premium jackup units by 2015. The Jackup Rig Market Report: 2010-2018 also discusses the fluctuation of day rates over time and the market drivers behind the prediction that day rates are slated to rise, although not to the rates seen during the recent oil boom of 2006-2008,” it said in a statement.
“Based on both our unmatched network for direct sourcing of market data and analysis, and RigPointSM, the world’s most comprehensive offshore rig database, the resulting document offers a wealth of detailed information covering important topics such as rig supply distribution, fleet analysis, global demand drivers, average contract backlog, demand forecasts, day rate forecasts, and an in-depth coverage of related issues affecting each of the seven major geographical regions of drilling activity.”
Founded in 2002, ODS-Petrodata provides companies operating in the offshore oil and gas arena with an independent, authoritative source for market intelligence, data, market research, and consulting services.