Newbuilds Update Indicates Major Rig Replacement cycle Underway

摘要

The U.S. land rig fleet is in the midst of a major replacement cycle. We've been hinting at this for some time, and the evidence keeps mounting.Looking at all the variables, we cannot help but conclude that there is underway an inexorable transition to a land rig fleet dominated, for the first time, by rigs with drawworks horsepower of ≥1,000 hp. We think we are there already.