I don't see the Europe stuff being an issue! It's just a matter of time before this goes up and continues that direction. I have bought another wad this morning! Hoping to get another 5 to 10k before it leaves these levels!! There are lots of rigs out there getting rates higher than this! It's all about supply and demand and deepwater is in great demand! These areas are unexplored, so the chance of finding huge fields are great!! So the exploration companies are wanting to find these, as most fields in the shallower water are already known and being developed as needed!!! There is so much water to cover and if you look at the globe, they could use every rig in the world and it would take another 20 to 30 years before they could say that they have covered the majority of it!! As far as I am concerned deepwater is the place to be and it will continue to be that way for a long time to come!! I am making this one a long term investment!!
Now, our jackups are a different story, if they want them to continue working, they may have to reduce the rates a bit to be competitive, however, with the news you are talking about, the exploration company may pay more for a better service, the old saying, you get what you pay for!! Personally, I would like to see the jack up demand increase, suring up a better dayrate and future for our rigs. Saying that, I would like for Vantage to be more focused on the deepwater operations, even go as far as using the revenues to purchase the rigs we are managing. Get set up strongly in deepwater. Although, our jackups are generating the most revenue right now, one ultradeepwater drillship can make what it takes 3 jackups to do!! Can't wait for the drillship to come out!!
Sabong
News 
Market Data 
Discover 
AI
