• 3 minutes Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 5 minutes Could Tesla Buy GM?
  • 11 minutes Global Economy-Bad Days Are coming
  • 17 minutes Venezuela continues to sink in misery
  • 5 hours OPEC Cuts Deep to Save Cartel
  • 5 hours What will the future hold for nations dependent on high oil prices.
  • 1 day End of EV Subsidies?
  • 12 hours Congrats: 4 journalists and a newspaper are Time’s Person of the Year
  • 6 hours Price Decline in Chinese Solar Panels
  • 8 hours USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 12 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 21 hours Permian Suicide
  • 1 day GOODBYE FOREIGN OIL DEPENDENCE!!
  • 1 day Asian stocks down
  • 1 day Maersk's COO statment.
  • 1 day IT IS FINISHED. OPEC Victorious
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…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions




Oilprice - The No. 1 Source for Oil & Energy News
-->