By Mark J Kaiser
Jackups, semisubmersibles and drillships are the marine vessels used to drill offshore wells and are talked about jointly as cellular offshore drilling devices (MODUs). MODUs are provided via newbuild building and function in the course of the global in hugely aggressive local markets. The Offshore Drilling and Rig building marketplace within the Gulf of Mexico examines the worldwide MODU carrier and building and describes the commercial affects of rig building within the United States.
The business association and significant avid gamers within the agreement drilling and building markets are defined and categorised. Dayrates within the agreement drilling industry are evaluated and hypotheses relating to dayrate components are established. versions of contractor decision-making are built, together with a net-present worth version of newbuilding funding and stacking judgements, and industry capitalization types are derived. Jackup development shipyards and procedures are reviewed besides estimates of work, apparatus, and fabric expense in U.S. development. Derivation of newbuild and substitute rate services completes the treatise.
The complete and authoritative assurance of The Offshore Drilling and Rig building marketplace within the Gulf of Mexico makes it an amazing reference for engineers, execs, coverage analysts, executive regulators, teachers and different readers eager to research extra approximately this significant and interesting industry.
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Extra info for The Offshore Drilling Industry and Rig Construction in the Gulf of Mexico
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. Cold-stacked rigs are frequently inactive for a period of several months to one or more years and are stored in a wet dock (Fig. 23). Cold-stacked rigs are generally not considered part of the marketable supply and are usually not counted in supply and utilization statistics. Capital and time are required to return a cold-stacked rig to working condition .
Cantilever designs are more versatile than slot designs since they can be used to drill and workover wells on 14 1 Mobile Offshore Drilling Units Fig. 9 Rack and pinion elevating system of a F&G Super M2 rig (Source: Remedial Offshore) Fig. 10 Spudcan penetrating the seafloor during jackup operation fixed platforms (Fig. 12) and to drill closely spaced wells without repositioning the rig. All rigs built over the past decade have been cantilevered but slot jackups are common in the legacy fleet.
The market is transparent because newbuilding is a significant capital expenditure for contractors and a significant source of revenue for rig-building shipyards. Prices are widely reported and tracked by the same firms that survey rig dayrates. Drilling contractors order rigs when the expected rate of return from operating a new rig exceeds company investment criteria. The benefit of investment depends on dayrates and utilization over the life of the rig [2, 4], and since these are unknown and uncertain, management employ their own expectations relative to their business strategy .