• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 8 days Does Toyota Know Something That We Don’t?
  • 2 days America should go after China but it should be done in a wise way.
  • 8 days World could get rid of Putin and Russia but nobody is bold enough
  • 10 days China is using Chinese Names of Cities on their Border with Russia.
  • 11 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 11 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 11 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 10 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 3 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 1 day How Far Have We Really Gotten With Alternative Energy
  • 11 days Putin and Xi Bet on the Global South
  • 11 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
James Stafford

James Stafford

James Stafford is the Editor of Oilprice.com

More Info

Evolving in the Deep: The Ultra Drill Ship

The bulk of new discoveries we’ve been hearing about over the past couple of years—at least the big ones—are offshore, many of them in ultra-deep waters. Shallow discoveries are fewer and farther between because most of the sweet spots have already been found.

So as exploration gets deeper, so too must the drilling rigs, and they have to be more advanced than ever before. This is all looking good for deepwater drilling rig day rates, which are showing some climb due to rising demand.

For 2012, 49% of new offshore discoveries were in ultra-deepwater plays, while 28% were in deepwater plays. What we’re looking at now are amazing advancements in deepwater rigs, with new semi-submersibles capable of drilling to depths of 5,000 feet or deeper. Beyond that, new sixth generation enterprise-class drillships can go to depths of 12,000 feet (think Brazil, the Gulf of Mexico and Angola, for starters).

This market is getting tighter and tighter, and while this year it’s mostly about Africa, the US Gulf of Mexico and Brazil, demand is also increasing (gradually) from Asia and Mexico, too.  Not only are we looking now at 6th generation ultra-deepwater drillships, but 7th, too.

One of the most advanced ultra rigs out there is Transocean’s Discoverer Enterprise, which is the first ultra-deepwater drillship to feature dual activity drilling technology that is said to reduce the cost of deepwater development by up to…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News