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Examining Trends In The Offshore Drilling Industry - January 2015 Edition

One of the best sources for investors in the offshore drilling industry to use to monitor trends in the industry is the IHS Petrodata Offshore Rig Day Rate Trends Report. This report, authored by leading industry analytics provider IHS Petrodata, is released around the middle of every month and shows the market day rate development data and utilization rates for four different types of offshore drilling rigs. These four types of rigs are carefully selected by IHS Petrodata in an effort to provide proxies for the industry as a whole. In this article, I will examine the report for the month of January and help investors understand what is going on in the industry.

The first type of rig whose dayrate and utilization trends we will examine are ultra-deepwater drilling rigs. These are defined as those rigs that are capable of operating in water that is 7500 feet deep or… Read More …