Seadrill Ltd. and its Deepwater
Peers Have a Big Week
Photo credit: Seadrill
Ultra-deepwater market
The first quarter was the
worst quarter for the
ultra-deepwater rig
market since the financial
cris...
Ultra-deepwater market
Only seven ultra-
deepwater rig years were
contracted in the quarter.
Ultra-deepwater market
This quarter is looking
much better.
Ultra-deepwater market
Last week alone nearly
double the number of rig
years were contracted.
Ultra-deepwater market
Let’s take a closer look at
the ultra-deepwater rig
market’s big week.
Seadrill signs a five-year deal
On June 2, Seadrill signed a $1.1 billion contract
with Total for its West Jupiter newbuil...
Seadrill
Contract details:
• Five-year, $1.1 billion contract with Total.
• West Jupiter newbuild ultra-deepwater drillshi...
Ocean Rig signs a six well deal
On June 4, Ocean Rig signed a $165 million contract
with Noble Energy for its Eirik Raude ...
Ocean Rig
Contract details:
• Minimum six-well program that’s expected to last
260 days.
• Eirik Raude is a semi-submersib...
Ocean Rig signs a six-year deal
On June 5, Ocean Rig signed a $1.3 billion contract
with Total for its Skyros drillship.
P...
Ocean Rig
Contract details:
• Six-year, $1.3 billion contract with Total.
• Skyros ultra-deepwater drillship will head to
...
Rowan signs a two-year deal
On June 6, Rowan signed a $425 million contract
with Freeport-McMoRan for its Relentless drill...
Rowan
Contract details:
• Two-year, $425 million contract with Freeport-
McMoRan.
• Relentless ultra-deepwater drillship w...
Investor takeaway:
• Last week’s slew
of long-term
contracts at solid
dayrates is a
very positive
sign for the
deepwater
i...
Not only that but these awards are spread across the globe.
It shows that drillers like Total and Freeport-McMoRan aren’t ...
The dividend investment
the IRS is daring you to
make.
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Seadrill ltd and its Deepwater Peers have a Big Week

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Deepwater drillers Seadrill, Ocean Rig and Rowan all signed contracts last week as oil and gas drillers like Freeport-McMoRan are finally committing to new deepwater drilling contracts.

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  • http://www.seadrill.com/image_detail.asp?iEntityId=350
  • http://www.seadrill.com/stream_file.asp?iEntityId=1596
  • http://www.seadrill.com/stream_file.asp?iEntityId=1596
  • http://uk.reuters.com/article/2014/06/02/uk-seadrill-total-idUKKBN0ED0FE20140602 and https://finance.yahoo.com/news/sdrl-seadrill-secures-commitment-newbuild-063504804.html
  • http://http://www.ocean-rig.com/fleet/semi_submersible_rigs/vessel/5
  • http://www.tradewindsnews.com/offshore/338880/orig-seals-1bn-deal
  • http://www.ocean-rig.com/fleet/drillships/vessel/8
  • http://cdn.capitallink.com/files/docs/companies/ocean_rig/press/2014/oceanrig060514.pdf
  • http://www.ocean-rig.com/fleet/drillships/vessel/8
  • http://www.rowancompanies.com/fw/main/default.asp?DocID=46&reqid=1938049
  • Seadrill ltd and its Deepwater Peers have a Big Week

    1. 1. Seadrill Ltd. and its Deepwater Peers Have a Big Week Photo credit: Seadrill
    2. 2. Ultra-deepwater market The first quarter was the worst quarter for the ultra-deepwater rig market since the financial crisis.
    3. 3. Ultra-deepwater market Only seven ultra- deepwater rig years were contracted in the quarter.
    4. 4. Ultra-deepwater market This quarter is looking much better.
    5. 5. Ultra-deepwater market Last week alone nearly double the number of rig years were contracted.
    6. 6. Ultra-deepwater market Let’s take a closer look at the ultra-deepwater rig market’s big week.
    7. 7. Seadrill signs a five-year deal On June 2, Seadrill signed a $1.1 billion contract with Total for its West Jupiter newbuild drillship. Photo credit: Seadrill
    8. 8. Seadrill Contract details: • Five-year, $1.1 billion contract with Total. • West Jupiter newbuild ultra-deepwater drillship will head to Nigeria for offshore work once complete. • Vessel is expected to be delivered in August. • Dayrate is worth around $600,000 per day.
    9. 9. Ocean Rig signs a six well deal On June 4, Ocean Rig signed a $165 million contract with Noble Energy for its Eirik Raude semi-submersible drilling rig. Photo credit: Ocean Rig
    10. 10. Ocean Rig Contract details: • Minimum six-well program that’s expected to last 260 days. • Eirik Raude is a semi-submersible drilling rig that will head to the Falkland Islands for offshore work with Noble Energy and Premier Oil. • Vessel is expected to commence operations in the first quarter of 2015. • Dayrate is about $560,000 per day.
    11. 11. Ocean Rig signs a six-year deal On June 5, Ocean Rig signed a $1.3 billion contract with Total for its Skyros drillship. Photo credit: Ocean Rig
    12. 12. Ocean Rig Contract details: • Six-year, $1.3 billion contract with Total. • Skyros ultra-deepwater drillship will head to Angola for offshore work. • Vessel is expected to commence operations in the third quarter of 2015.
    13. 13. Rowan signs a two-year deal On June 6, Rowan signed a $425 million contract with Freeport-McMoRan for its Relentless drillship. Photo credit: Rowan Companies
    14. 14. Rowan Contract details: • Two-year, $425 million contract with Freeport- McMoRan. • Relentless ultra-deepwater drillship will head to the Gulf of Mexico for offshore work. • Vessel is expected to commence operations in the third quarter of 2015. • Final drillship under its current construction program.
    15. 15. Investor takeaway: • Last week’s slew of long-term contracts at solid dayrates is a very positive sign for the deepwater industry.
    16. 16. Not only that but these awards are spread across the globe. It shows that drillers like Total and Freeport-McMoRan aren’t giving up on the deepwater anytime soon. Instead, drillers will continue to seek top drillships to search for oil in the deepest parts of the ocean.
    17. 17. The dividend investment the IRS is daring you to make.
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