Deeper water, higher deckloads and cheaper and faster drilling capacity with higher environmental standards are the drivers behind new designs evolving within the rig contracting community.
Several rig concepts under development are intended to fit these new requirements. Some concepts have secured long-term contracts and moved into the construction phase, while other designs still require a firm drilling commitment before a new hull can be laid.
Caspian Sea drilling operations are due to become less dependent on refurbished former Russian units this year when a completely new semisubmersible design from Mærsk Contractors debuts for ExxonMobil.
Aker's H3 design and variations, which account for about a third of the global offshore semisubmersible drilling fleet, are being given a new lease on life in several ways. One company, Fred. Olsen Energy, is looking to adapt this 30-year-old semisubmersible design for slender well drilling and as a dry completion unit, while Aker is looking at enhancing the H3 to provide a superior unit for the 21st century.
Halliburton has clearly seen the need to access a top-class design house and has moved to acquire GVA Consultants, which produced the semisubmersible platform for BP's Crazy Horse project in the US Gulf of Mexico and is working on a new rig for the Iranian sector of the Caspian Sea.
Capacity is a big issue for the future, as top-class units will need to be capable of operating in water depths to 10,000 ft (3,050 m) and beyond. Noble Drilling is aiming to address this issue with its new Super EVA (economic value enhancement) semisubmersible, which will have a colossal 2 million-lb derrick load.
Recommended Reading
Dividends Declared Week of Feb. 17
2025-02-21 - 2024 year-end earnings season is underway. Here is a compilation of dividends declared from select upstream, midstream, downstream and service and supply companies.
Viper Makes Leadership Changes Alongside Diamondback CEO Shakeup
2025-02-21 - Viper Energy is making leadership changes alongside a similar shake-up underway at its parent company Diamondback Energy.
Diamondback’s Stice to Step Down as CEO, Van’t Hof to Succeed
2025-02-20 - Diamondback CEO Travis Stice, who led the company through an IPO in 2012 and a $26 billion acquisition last year, will step down as CEO later this year.
SM Energy Restructures Leadership Team
2025-02-20 - SM Energy Co. has made several officer appointments and announced the retirement of Jennifer Martin Samuels, the company’s vice president of investor relations and ESG stewardship.
Q&A: Petrie Partners Co-Founder Offers the Private Equity Perspective
2025-02-19 - Applying veteran wisdom to the oil and gas finance landscape, trends for 2025 begin to emerge.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.