Press Esc to close

WorldOil

CONTENT PREVIEW

For full content view: Log in Now!

  • Deepwater Statistics


    Mark Tuckwood, Wood Mackenzie

    In July 2008, the deepwater rig market was looking rosy. The rapid run-up in oil and gas prices resulted in a rush of Final Investment Decisions (FIDs) as previously marginal deepwater projects suddenly became economically viable. Although initially tentative, the growth in the rig sector gradually gained momentum as upstream operators jockeyed to contract new-build capacity for their ambitious deepwater drilling campaigns. By September 2008, around 100 new deepwater rigs (semis and drillships) were under construction or planned, a historically unprecedented level of construction. However, just when $200/bbl looked in sight, the unstoppable finally stopped. Since July, the oil price has fallen over $100/bbl, from its high of $147/bbl, to $40/bbl (December 15, 2008), significantly lower than the current marginal development cost for deepwater and close to the cash cost. Although in the short term this will not unduly concern deepwater operators - primarily because of the long investment horizons required -

This area of the site is restricted. In order to gain access, please either Log In, or subscribe to World Oil.

Two options are available to you for creating an account.

1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.

Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.

Free Trial


2. Purchase a subscription to World Oil magazine and gain immediate and complete access to World Oil Online. As a Total Access subscriber you will have access to all areas of the site available to registered users and free subscribers as well as having access to such premium content areas as:

  • The Archives section containing over ten years of complete magazine archives,
  • The WO DataHub's engineering tables and directories,
  • The World Oil annual forecasts, including past predictions,
  • Select World Oil technical handbooks,
  • And much, much more!

Subscribe


Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.


If you are already a paid subscriber and do not have access, please email CustomerService@worldoil.com.

WO DATA HUB

EngineeringTablesIcon-Large

Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.

WO SUPPLEMENTS

2013 Fracturing Technology

2013 Fracturing Technology

ENERGY EVENTS