"Follow the money" is a good rule to understand complicated financial activities. In the oil and gas industry, you can gauge trends by following the new-builds. Since 2009, many newbuilds in floating structures—drillships, Spars and FPSOs—have headed to either the ultra-deepwater Lower Tertiary plays in the Gulf of Mexico or deepwater fields in Brazil. As the focus in these areas is on the long-term results, ultra-deepwater operators and their drilling contractors and EPC partners did not slow down to catch their breath during the oil price dip and have been introducing newbuilds at a rapid pace.
展开▼