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Monday, October 24, 2016

Seadrill CFO: Offshore oil rig rates to fall further

March 4, 2014

Offshore drilling rig rates will continue to fall in the coming period and the rate spread between old and new equipment will continue to widen, Rune Lundetrae, the chief financial officer of offshore driller Seadrill said on Tuesday.

"I think we will see day rates also for new equipment coming down in this market," Lundetrae said. "No one is immune. I'm feeling relatively good about this market. But there is headwind and we all have to take that in."

Reporting by Balazs Koranyi and Joachim Dagenborg

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