As idle rig times loom in the U.S. Gulf this year, Westwood Global Energy, an energy market research and consultancy firm, has pointed out that the supply, demand, and utilization for drillships are set to pick up the pace in 2026, with long-term fundamentals in the offshore drilling market painting a picture of busy times ahead for the drillship fleet in the future.
Cinnamon Edralin , Westwood’s Americas Research Director, has provided a deep dive into the state of play within the U.S. Gulf drillship sector, which is said to be facing a lull in activity not seen since 2018. With marketed utilization for this segment staying above 90% since mid-2021, Edralin claims that near-term availability in the region has been very tight.