"A grim future for jack-ups was forecast today as industry pundits warned that the drop in shallow-water drilling seen this year and the large order book still to come into the market was unlikely to help steer a U-turn from current poor utilisation..."
"Transocean sets aside more jack-up rigs
Transocean, the world's largest offshore rig contractor, has continued its efforts to take capacity out of the oversupplied shallow-water market by stacking four more jack-up rigs..."
Just peeked at your shipbuilding website again and noticed a discrepancy. It does still show Scorpion's KFEL deepwater rig as scheduled to be delivered 2012. By and large though it looks pretty accurate.
I believe a CC last year (or possibly a media report re SeaDrill) that suggested they were executing a strategy for a greater presence in Africa (I think JF might have even opened up a sattelite office there)...Well it just came to fruition today; I love it when a plan comes together...The Prospero was idle in Indonesia for quite some time I believe and will undergo some upgrades and off she sails for $277/day for a min of 6 months...I'd love to see JF get more work there and move some Deep Sea Supply and SeaWell assets to that region of the world...get those idle vessels working...just my .02c...glta!
FWIW, I'm not equating NG drilling with US GOM. GOM NG drilling, save for ultradeep wells being drilled by Rowan, is in a coma possibly for a long time to come. BUT, worldwide, NG consumtion is on a tear; up 20% since 2000 and growing a good bit faster than projected oil demand, even in this market.
While NSea jackups are being redirected to oil, ME rigs are being redirectd to NG, what with the spare capacity on the part of oil and all with OPEC. This Seadrill jackup is likely being contracted in the Red Sea to drill ultradeep wells for NG as it is being outfitted for hi pressure/hi temp ops.
The Red Sea incidently is potentially a high growth area. There are currently only 18 rigs there(vs 117 in the Persian gulf on the other side) and a lot of interest in prospecting the Red Sea.
A 100 000 dollar Sudan premium. There is an outstanding warrant for the arrest of Omar Bashir, the president of the country issued by the International Criminal Court and folks are still killing each other in the southern portion of the country.
The operator RSPOC is owned by CNPC and Petronas so there shouldn't be any problems in getting paid.