The rigs are Deepwater Expedition, Transocean Legend, Transocean Rather and GSF Arctic III.

The offshore drilling market is entering its second year of the downturn, which is shaping up to be more challenging than the first – and worse than had previously been expected by the industry, according to Seadrill. 

Ensco has swallowed a bitter pill with confirmation it has taken fourth-quarter 2014 non-cash goodwill and asset impairments totaling $3.9 billion.

A total of 27 out of 72 ultradeepwater-capable (7,500 ft+) newbuild rigs due to be delivered between 2015 and 2020 are currently uncontracted, according to deepwater driller Ocean Rig.

The contact has an estimated value of about NOK 110 million (US$14.4 million).

According to analyst Douglas-Westwood in one of its regular weekly market statements the number of active ultradeep rigs has remained high, with 171 units contracted compared to 175 units in January 2014.

The drillship, which can accommodate a 20,000-psi BOP system, has been designed in full compliance with the ABS Guide for the Classification of Drilling Systems.

The company will delay posting third-quarter results after saying earnings would be hit by $2.76 billion in charges from a decline in the value of its contracts-drilling business and a drop in rig-use fees.

Worries about an oversupply of equipment are impacting the offshore drilling industry.

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