By Mark J Kaiser

Jackups, semisubmersibles and drillships are the marine vessels used to drill offshore wells and are pointed out jointly as cellular offshore drilling devices (MODUs). MODUs are provided via newbuild development and function through the global in hugely aggressive nearby markets. The Offshore Drilling and Rig building marketplace within the Gulf of Mexico examines the worldwide MODU provider and building and describes the commercial affects of rig building within the United States.

The business association and significant gamers within the agreement drilling and development markets are defined and classified. Dayrates within the agreement drilling marketplace are evaluated and hypotheses concerning dayrate elements are confirmed. versions of contractor decision-making are constructed, together with a net-present worth version of newbuilding funding and stacking judgements, and industry capitalization versions are derived. Jackup development shipyards and procedures are reviewed besides estimates of work, gear, and fabric rate in U.S. development. Derivation of newbuild and substitute fee features completes the treatise.

The complete and authoritative insurance of The Offshore Drilling and Rig building industry within the Gulf of Mexico makes it an excellent reference for engineers, execs, coverage analysts, executive regulators, teachers and different readers desirous to study extra approximately this significant and engaging industry.

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Extra resources for The Offshore Drilling Industry and Rig Construction in the Gulf of Mexico

Example text

Price range shown in parentheses Prices on the secondhand market are determined by market conditions and the net asset value (NAV) of the rig which is an estimate of its net revenue generation potential over its remaining life. Factors that influence NAV include rig design class, operational water depth, drilling depth and equipment specifications, age and condition, location, and participants expectations of future market conditions. g. bankruptcy) may cause NAV and secondhand market prices to differ.

Drilling contractors enter into turnkey contracts with shipyards for the construction and delivery of one or more rigs, or yards may build on speculation. The newbuild market is primarily Asian with major shipyards in Singapore, South Korea, and China. Rigs operate offshore in a corrosive and hostile environment, and steel and equipment needs to be replaced for safe and efficient operations. As a rig ages, its technology also becomes obsolete and upgrades are required to sustain competitiveness and market value.

Ready-stacked rigs are not under contract but are available for immediate use with minor preparation. In a ready-stacked state, normal maintenance operations similar to those performed when the rig is active are continued so the rig remains work ready, most of the crew is retained, and rigs are actively marketed and considered part of marketable supply. 3 Cold-Stacked If operators do not expect a rig to be utilized in the near term, the rig is cold-stacked to reduce operating cost and support fleet dayrates.

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