Apr 11 | 2019
Jack-up Market Specialist Prime for 'Consolidation Narrative'
Offshore exploration firm Maersk Drilling has listed on the Copenhagen Stock Market, as analysts predict further consolidation in the sector.
Listed as The Drilling Co. of 1972, or TDC 1972, the firm is recognized as a specialist in the “ever-growing harsh environment jack-up market” by consultancy Wood Mackenzie, which cited TDC’s higher than average floating rig utilization of 75 percent as a key target for acquisition.
“While only a few of the large drilling companies – Transocean, Ensco, and Seadrill – have elected to make acquisitions in the past two years, we believe that TDC 1972 will be part of the consolidation narrative in the near term.”
TDC owns 24 rigs, including five Ultra-Harsh jack-ups, four XL Enhanced jack-ups, seven Harsh environment jack-ups, four semi-submersibles and four Ultra deepwater drillships.
Photo: Maersk Drilling vessel. Credit: TDC
Listed as The Drilling Co. of 1972, or TDC 1972, the firm is recognized as a specialist in the “ever-growing harsh environment jack-up market” by consultancy Wood Mackenzie, which cited TDC’s higher than average floating rig utilization of 75 percent as a key target for acquisition.
“While only a few of the large drilling companies – Transocean, Ensco, and Seadrill – have elected to make acquisitions in the past two years, we believe that TDC 1972 will be part of the consolidation narrative in the near term.”
TDC owns 24 rigs, including five Ultra-Harsh jack-ups, four XL Enhanced jack-ups, seven Harsh environment jack-ups, four semi-submersibles and four Ultra deepwater drillships.
Photo: Maersk Drilling vessel. Credit: TDC
