Where next for jack-up rates?


Analysis of RigLogix data shows that recently, jack-up day rates around the world had risen to slightly above operating costs, allowing rig owners to finally make a little profit. That trend may not continue in all regions.

In 2017, jack-up day rates in the Middle East and Southeast Asia, although not much above operating costs, had begun to stabilize. However, that began to change in October 2017, oddly enough in India when state oil giant ONGC awarded new multi-year contracts for eight jack-ups at day rates around $26,000.

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