Sofia Forestieri’s Post

Our webinar "Navigating 2024: A global Q1 review and year ahead forecast" is just around the corner! Join us for a 30-minute session with Esgian Rig Services experts. Secure your spot now to gain exclusive insights into offshore drilling trends and opportunities. Register in the link below! 👇 #Esgian #webinar #analytics #forecast #offshoredrilling #rigs

Join us this Wednesday for a Q1 review and year ahead forecast on the #offshoredrilling market. Sofia Forestieri and Matthew Donovan from Esgian Rig Service will provide you with the latest insights! 😍 #esgian #webinar #analytics #forecast2024 #offshoredrilling #rigs

Upstream features an intriguing article on the current upcycle in the offshore drilling market which also examines how the effects of the last downturn linger (linked in the comments below). This provides useful context for my recent talk on some of the contractual issues that arise in this context. If you are interested in learning more, please contact me for a copy of my talk or to discuss the issues further.

Achieving cost excellence in U.S. onshore drilling is all about smart operational efficiencies. 🛢 Simple changes lead to significant savings. It’s smarter, not harder, that wins the race. #DrillingEfficiency #CostSavings https://bit.ly/3RhB8nV

Offshore Drilling Downturn: Evercore ISI Report Raises Concerns About Slow Second Quarter for Offshore Drilling Contracting Activity A new report by Evercore ISI paints a cautious picture of the offshore drilling industry for Q2 2024. Their analysis of second-quarter rig contracting activity reveals a sluggish market, with fewer contracts signed compared to the previous quarter. This slowdown could have implications for global oil production and future rig utilization rates. Key Points: ✅ Contracting Chill: Evercore ISI's report highlights a decrease in signed contracts for offshore drilling rigs during the second quarter of 2024. This slowdown follows a period of modest growth in the first quarter. ✅ Geopolitical Uncertainty: The report suggests that ongoing geopolitical tensions and potential economic headwinds might be contributing to a cautious investment climate, leading operators to delay decisions on new drilling projects. ✅ Regional Variations: While the global rig market shows a slowdown, certain regions, particularly the Middle East and North America, continue to witness pockets of activity. ✅ Fleet Utilization Woes: With fewer contracts awarded, concerns regarding overall rig utilization rates are rising. This could put pressure on day rates for offshore drilling rigs. ✅ Future Outlook: The report acknowledges ongoing positive factors such as rising oil prices. However, cautious optimism prevails regarding the near-term outlook for the offshore drilling sector. Food for Thought: Is the slowdown in rig contracting activity a temporary blip or a sign of a more prolonged downturn for the offshore drilling industry? How will the current geopolitical climate and economic uncertainties impact future offshore drilling activity? What strategies can offshore drillers adopt to navigate the current slowdown and optimize fleet utilization? #OffshoreDrilling #RigMarket #EvercoreISI #OilAndGas #Geopolitics #EnergySecurity #FleetUtilization #OilPrices #FutureofEnergy #Innovation

Achieving cost excellence in U.S. onshore drilling is all about smart operational efficiencies. 🛢 Simple changes lead to significant savings. It’s smarter, not harder, that wins the race. #DrillingEfficiency #CostSavings https://bit.ly/3RhB8nV

Interesting takeaway from our latest analysis on the Chord-Enerplus deal: Chord drills way, wayyyy more long laterals than Enerplus. The numbers are pretty crazy: 88 wells >12,500' lateral for Chord compared to under 10 for Enerplus. Drilling long laterals should be a major component in the $55MM/yr drilling, completions, and facilities synergies quoted in the deal. Note that drilling efficiencies are particularly relevant in the Bakken, where completions are generally much smaller than the other shale plays. So when Chord estimates that >40% of their remaining inventory supports 3-milers, that's worth paying attention to! Shout out to Brandon M. of Novi Intelligence for his great work on this piece.

The offshore drilling industry is evolving rapidly - find out which companies are leading the charge in innovation, technology and sustainability in 2024. #OffshoreInnovation #DrillingTechnology #GreenboxContainer

🚀📈 Borr Drilling reports a remarkable 120% quarter-over-quarter increase in profit! Dive into the details of their impressive financial performance and what it means for the future of drilling operations. Check out the full article on Rigzone for insights. #InvigourEnergy #OilAndGas #Drilling #FinancialGrowth #BorrDrilling