Offshore drillers endured a tough decade as many outfits filed for bankruptcy between 2014 and 2016 with oil prices collapsing as U.S. shale production boomed. Thankfully, the sector has seen a rebound over the past couple of years. The current year has been another strong year for the offshore drilling market with high rig, OSV and subsea utilization and day rates. Activity remains particularly strong in the Middle East, Brazil and West Africa. Unfortunately, the overwhelmingly bearish sentiment that has ruled oil markets in 2024 has taken…
