Odfjell Drilling does not expect any new rig orders in the coming years, despite a shrinking supply and an aging fleet. The company is focusing on extending the operational life of its existing platforms.
Singapore's Keppel has established a private fund to transfer 10 outdated drilling rigs, into which Apollo Global Management is investing $1.5 billion. The deal reflects growing demand for modern offshore drilling platforms and could bring Keppel up to $988 million.
In the second quarter, Nabors Industries increased its drilling activity, but overall revenue declined due to lower earnings in the digital and automation segments. Despite the growth in the number of rigs, the company's shares fell by 3.8%.
The temporary suspension of two Noble Corporation drilling rigs in Brazil due to a regulatory inspection led to decreased revenue and losses in the second quarter. Despite market volatility and reduced activity from Petrobras, the company notes steady demand for deepwater drilling and continues to pursue new contracts.
China Oilfield Services Limited has announced a tender for the basic design of four new highly efficient self-elevating drilling rigs. Applications are scheduled to be accepted in August 2026.
In the second quarter, Noble Corporation reported a loss of $37 million due to the suspension of operations at two drilling rigs off the coast of Brazil. The company also lowered its revenue and EBITDA forecasts for 2026.
Keppel has begun preparing unfinished drilling rigs for operation in order to take advantage of rising demand and improving market conditions. The company is also evaluating the prospects for further commercialization of these assets.