In Gulf of Mexico, deepwater and Shelf markets face disparate futures

The disparity between the US Gulf of Mexico Shelf and deepwater rig markets continues to widen. Earlier this year, the jackup market reached its lowest level in 33 years, according to ODS-Petrodata figures, and slid downward from that point. Drilling contractors continued their exodus from the Gulf whenever possible, moving jackups to more lucrative areas. Despite a slowdown in some jackup markets, eight rigs will have mobilized from the Gulf by the end of July. Gulf, most people consider it a growth market. As many as 17 newbuild epwater rigs are scheduled to enter the region by the end of 2020, More deepwater rigs could mobilize there for a few wells, then Mobilize back to other markets during this period. Meantime companies continue their business strategies that take them to opposite sides of the market. One operator is successful with its successful with its shallow water deep gas drilling prospects. One engineering company is looking toward the deepwater market to enable operators to drill top-hole sections more efficiently with a riserless mud recovery system.