Recent high demand for drilling rigs in the North Sea looks set to continue to yearend.
Current rates for semisubmersibles may have peaked, while jack up rates could rise further.
This is the view of Rod Hutton, international rig markets manager at Petrodata Ltd., Aberdeen, who told OGJ typical semis have been achieving day rates of $80,000-95,000 of late.
Rigs returning
Fourth-generation and high-specification semis have been chartered at rates of $95,000-137,000/day, but this market is thought to be at its peak, and rigs coming back to the North Sea may stabilize rates.
Semisubmersibles due back in the North Sea include the Jack Bates, currently operating off Australia but due back in April 1997.
Rigs being brought out of retirement include Neddrill Kolskaya, which has been used for accommodation the last few years but will be converted to drill for Denmark's Danop in mid-1997.
Similarly, Scarabeo 7, formerly Safe Supporter accommodation rig, is to be converted for deepwater drilling, with its first charter most likely to be in the Mediterranean Sea.
Also, Deep Sea Stavanger, a newbuild rig hull being finished for Odfjell Drilling AS, Bergen, may be completed, but so far the operator has not received the firm contract it needs to make commissioning of topsides appear worthwhile (OGJ, Apr. 29, p. 29).
At least one jack up, Rowan Gorilla IV, is due to return to the North Sea for 1 year to drill for Phillips Petroleum Co. U.K. Ltd., said Hutton. Also, Rowan Gorilla V, being built speculatively in the U.S., is expected to head for the North Sea.
Hutton said jack up charter rates are not so buoyant as those for semis now, but he foresees no let-up in jack up demand, so rates are expected to rise.
One contract for a mid-1997 charter was reported at a rate of $50,000/day. North Sea jack up rates are expected to remain healthy at least into next year, with international jack up demand also high.
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