By Bruce Beaubouef, Managing Editor
The floating drilling rig market in Mexico remains subdued but may pick up starting next year, according to Evercore ISI’s latest Offshore Rig Market Snapshot.
Pemex’s focus on shallow-water operations has primarily led to a decline in the utilization of contracted semisubmersibles in Mexico since 2014. Contracted semisubs in Mexico averaged ~6.0 units in 2014 (peak since 2009), gradually declining to an average of ~1.4 units in July 2024, says Evercore.