2 Stocks to Gain From Upward Pressure on Deepwater Dayrates
FTITechnipFMC(FTI) ZACKS·2024-09-20 04:01

Offshore rig contractor Noble Corporation's (NE) CEO, Robert Eifler, recently shed light on the future of deepwater drilling, predicting that dayrates for rigs could rise to $600,000 per day by 2026. This optimistic outlook hinges on expected growth in global deepwater spending, which Noble forecasts will average $79 billion annually in 2026 and 2027. This would mark a 20% increase from 2023-2025, reflecting oil producers' renewed focus on deepwater exploration. As dayrates largely dictate the amount of rev ...