Text Size:
A | A

Demand Remains Strong For Newbuild Rigs

Text Size: A | A
By Peggy Williams, Hart Energy
March 11, 2014

In an exclusive survey for Hart Energy’s new Market Intelligence reports, seven North American rig manufacturers reported that the market for newbuild rigs was robust, with significant orders from top-tier drilling contractors. Of eight manufacturers surveyed, just one reported soft demand. 

The newbuilds are destined for domestic and international markets, with the domestic market absorbing the lion’s share. Out of 116 reported orders, 28 orders (25%) are slated for international use. That percentage could grow in the future, with two manufacturers expecting international demand will soon outpace domestic demand because ...

Already a subscriber? Log In
Does your company have a site license? Inquire here
Already a print subscriber? Upgrade your magazine subscription