If oil prices hold up relatively well around 60 to 70/ baril until we get successful well GSPE could retest its 2014 price range to $2.00 and TXSO $0.40. MARK MY WORD! It's all about proximity within the court of the majors such as Exxon in the USGM.
QUOTE:
US GULF JACK-UPS AND PLATFORMS
Jack-ups
Contractor Unit Status Operator Timeframe Block Water Depth*
Arena WFD Rig 300 Active Arena ST 51 60
Arena WFD Rig 350 Active Energy XXI End Sept 18 ST 54 66
Ensco Ensco 68 Active Castex Aug-Dec 18
Ensco Ensco 87 Active Fieldwood July-Sept 18 SM 127 225
Ensco Ensco 75 Active Talos Dec 18 EW 306 275
Ensco Ensco 102 Active Arena Feb 19 EI 341 272
Enterprise Offshore Enterprise 205 Active Cantium MP 30 45
Enterprise Offshore Enterprise 264 Active Fieldwood ST 68
Spartan Offshore Spartan 208 Active Cox Oct 18 VR 245 132
Rowan Rowan EXL III Active Cantium July-Aug 18
GulfSlope Ralph Coffman Moving to site Canoe & Tau June-Oct 18
Platforms
Walter Oil & Gas H&P 203 Coelacanth EW 834 1186
EnVen Nabors Lobster EW 873 773
W&T Offshore Nabors platform Virgo VK 779 1132
Walter Oil & Gas H&P Platform Megalodon ST 311 392
* Water depth in feet Source: CLARKSONS/BSEE
Email: offshore@bexco.be • Tel: +32 52 49 93 08 • www.bexco.be
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Jack-ups staging a comeback in
the US Gulf’s shallow waters
Jack-ups staging a comeback in
the US Gulf’s shallow waters
AFTER years of struggle, the US
Gulf of Mexico jack-up market has
seen a modest revival as capital
has flowed back to players eager to
take a fresh look at resources in
mature shallow-water areas,
writes Kathrine Schmidt.
As recently as 2009, the region’s
fleet was far more active, averaging
53 units that year, according
to Clarksons data.
The count took a modest dive in
2010 and 2011 but rebounded in
2012 to 43 units.
But in the following years after
the oil-price downturn, that count
utterly cratered, falling as low as
just two units in August of 2016.
Now industry counts show a
total of about 11 jack-ups with contracts
on the books in the region,
with more firming up recently.
As older rigs have come off the
market, utilisation rates have
rebounded to about 58%, according
to Clarksons.
Dayrates, meanwhile, have
remained flat, allowing operators
to take advantage of stable, lower
service costs.
A standard-spec unit continues
to go for between $40,000 and
$65,000 per day, while a high spec
unit stands at between $60,000
and $85,000, according to data
from Clarksons.
Shallow-water player Arena Offshore,
which last year bought up
Flaring to go:
the jack-up
Ensco 102 in
action
Photo: AWE
Infrastructure: the Petronius field is among the assets in which EnVen has acquired a stake Photo: NETWORK PHOTOGRAPHERS
Players get back on track to revitalise assets
ous deep-water drilling opportunities
and enhances our position
as one of the largest operators in
the Gulf of Mexico,” said Fieldwood
chief executive Matt McCarroll.
Finally, Stone and Talos Energy
— fresh from a blockbuster discovery
at the Zama field off Mexico
— completed a $2 billion reverse
merger deal last year that led to a
Talos listing in New York.
Beyond work planned for the
Zama discovery in Mexico, the
company also aims to continue
development efforts around the
Pompano platform and Tornado
discovery.
a number of jack-up rigs as part of
its exploration push, has two jackups
working in the area. So does
Fieldwood Energy, and Cantium
recently added a second unit.
Other players including Energy
XXI, Castex, Cox and Talos all
have one.
There has also been a flurry of
announcements on new contracting
activity.
As for high-spec units, private
equity-backed US player Cantium
recently picked up the Le Tourneau
116 unit Rowan EXL III for a
firm two-well programme in the
US Gulf of Mexico. The contract is
to last 28 days ending sometime
this month.
Cantium took the rig mid-June
after it came off charter with US
player Freeport McMoRan.
GulfSlope Energy has also
signed the Ralph Coffman rig to
tackle its upcoming Canoe Shallow
and Tau prospects. Ensco
recently highlighted new contracts
and extensions for its jackups
in the Gulf of Mexico.
Talos opted to extend a contract
for the jack-up Ensco 75 for a total
of 90 days to December 2018.
Fellow US independent Fieldwood
Energy also extended its
contract for the Ensco 87, adding
four plug and abandonment wells,
Ensco revealed.
After that work, ExxonMobil
will pick up the same unit for two
wells, with work expected to start
in September and wrap up in
November.
The US supermajor also has a
one-well option, a six-well option
and a three-well option on the
unit, which is capable of operating
in waters of up to 350 feet.
Also active are platform rigs
aboard existing platforms, including
EnVen off the Lobster platform,
W&T Offshore from the
Virgo facility and Walter Oil & Gas
on its newer units of Megalodon
and Coelacanth
