Recent asset sales in the drilling market have injected a strong dose of positive sentiment into the crisis-weary offshore sector — but any upswing is far from enough to offset low utilisation and the laid-up armada of rigs, analysts say.
Borr Drilling’s purchase of Transocean’s jack-up fleet and Shelf Drilling’s move on three Seadrill units are among the transactions that have fuelled talk of the market bottom finally being reached.
