The U.S. Gulf of Mexico rig market has fared particularly well despite COVID and ups and downs in oil and gas prices.
“The drilling market globally is improving pretty much in every region and pretty much every rig type,” said Terry Childs, head of Riglogix at Westwood Global Energy. “The Gulf of Mexico, in particular, has been really strong the past year or so, especially as it pertains to deepwater drillships. The day rates that rig owners have gotten for those rigs have led the way in the world.”
High oil and gas prices are helping the rig market prosper. The energy crisis in Europe is also driving the market.