With rig owners and investors looking to scoop up assets at more realistic – but still low – values, transaction activity is picking up. And it’s set to continue.
We’ve been saying it for a few months: the offshore market looks better than it did six months ago. But there’s still a lot more improvement needed on the contracting side (and the supply side to a certain extent) to bring utilization back to healthy levels. Despite that, early bets on a sustainable recovery are increasing.