This growth is expected to impact various aspects of offshore drilling, including the number of rigs, support vessels and daily rates. The overall interest and investment in the global offshore ...

While U.S. oil-rig growth has plateaued, demand for offshore rigs for overseas drilling has swelled. That is causing day rates to skyrocket and the stocks of drilling contractors to soar.

according to Wood Mackenzie Ltd. Prices to rent the most advanced offshore drilling rigs averaged $420,000 a day for the first half of this year, as roughly 90% of the industry’s active fleet is ...