The supply of vessels for U.S. offshore drilling has led to a surplus following several years of new construction, which in turn has cut into the dayrates, but healthy commodity prices should keep the credit profiles stable for at least another year, according to a report by Standard & Poor’s Ratings Services (S&P).
Dayrates
Articles from Dayrates
First-Mover Advantage Still Key in U.S. Onshore Services Sector
The U.S. onshore oilfield sector was the first to adopt technological advances, an advantage that remains important today for the supply/demand dynamics of domestic operators, Fitch Ratings analysts said Thursday.
March 21, 2014
Pioneer Drilling: Market Softening; West Texas, Bakken Bright Spots
Lower prices for oil and natural gas liquids have led to softening in drilling services markets and caused Pioneer Drilling Co. to dial down its operations guidance for the second quarter, the company said Monday. However, the Permian Basin of West Texas and the Bakken Shale offer some bright spots.
June 26, 2012
Ensign Builds Drilling Presence in U.S. Shales
Calgary-based Ensign Energy Services Inc. is boosting its services in the U.S. onshore through an agreement to acquire Rowan Cos. Inc.’s land drilling division for US$510 million in cash.
July 22, 2011
Lehman: Production Inches Up in First Half of 2001
Lehman Brothers Analyst Thomas Driscoll said an “exhaustive analysis” of mergers and acquisitions among 47 large producers, who account for about 70% of domestic production, led him to conclude that production rose 1.5-1.6% over the past six months. A continuation of the first-half trends will lead to 3-3.5% year-to-year production growth by the end of the fourth quarter, Driscoll said. However, the significant decline in prices probably will have an impact on drilling in the second half of the year.
August 21, 2001
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