EnergyWatch

Rystad Energy: At least 110 rigs must go to curb downturn

Massive overcapacity in the jack-up rig market means that 110 rigs need to be go before the market can return to balance and the downturn in recent years can be curbed, says Rystad Energy.

Photo: Maersk Drilling PR

A drastic reduction in the number of jack-up rigs is necessary before the market can get rid of massive overcapacity, concludes Norwegian analyst firm Rystad Energy.

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