Global E&P and drilling activity outlook is bright, even with lower commodity prices

摘要

THE OUTLOOK IS bright for global E&P and drilling activity, with many prognosticators and analysts saying pent up US demand could result in as many as 200 additional rigs, perhaps more. It may take the industry 12 months to meet that demand with additions to the rig fleet. Additionally, most expect that number to continue to grow beyond 2006. This pent-up demand could result in a rig count as much as 15 percent higher than current figures with continuing rig demand meaning continuing high dayrates, onshore and offshore, worldwide. Globally, these analysts expect international E&P and rig demand to also continue increasing, with strong activity to continue in Africa, Southeast Asia, Brazil and particularly the Middle East, which has already experienced phenomenal growth in E&P activity the past 12-15 months.