courtesy Ocean Rig

The count of “ultra-deepwater” wells on order by oil companies worldwide and serviceable by deepwater drill units will peak in July 2010 at about 48, judging by graphics seen in a presenation by Norwegian contractor Ocean Rig.

By the end of 2010, the number of wells on order appears to taper off to 45, although the start of 2008 marks the beginning of a period of intense demand for drilling. “Ultra-deepwater” contracts for rigs capable of drilling in water depths greater than 7,500 feet has been relatively flat since about the beginning of 2002.

By January 2010, oil company “requirements” for wells appears much higher than wells actually contracted for, suggesting much rig-hiring still to come.

Ocean Rig’s high-spec Eirik Raude and Leif Eiriksson semi-submersible drill rigs become available by September 2008 and October 2009, the period of tightest expected rig supply.

ws@scandoil.com