Sunday, 23 August 2015

Pressure mounts to retire older fleet as rig oversupply persists

Pressure mounts to retire older fleet as rig oversupply persists
24 August 2015, News Wires – With no signs of a turnaround in global rig demand, drilling contractors are under increasing pressure to retire older rigs. Operators worldwide have succumbed to the prolonged weakness in oil prices by curtailing drilling activities. An oversupply of rigs in an already slow drilling market combined with the addition of […] More »

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