Noble Corporation鈥檚 recent decision to sell the Pacific Meltem and Pacific Scirocco for non-drilling purposes highlights a key issue in the drillship market: What happens to cold-stacked rigs that are unlikely to return to work? With the floater market showing signs of weakness and contract opportunities becoming scarcer, reactivating these units is proving even more challenging.Esgian Rig Values has adjusted its valuations since early 2025 to reflect these conditions鈥
Despite substantial revenues generated by high oil and gas prices in 2022, oil companies are being slow to reinvest and are instead focusing on returning value to shareholders and reducing debt, energy industry intelligence group Westwood said in its 2022 review of upstream oil and gas鈥
Energy Perspectives 2022: Long-term development in the world鈥檚 energy markets and how politics, technologies, companies, and consumers can influence it, is an overarching theme of the energy transition.With inflation raging, geopolitical disruption and resultant energy security concerts鈥
