Upstream E&P companies shift focus to contracts with longer duration, lead times: Transocean

Upstream companies appear to be shifting their focus to longer-term durations for offshore deepwater contracts, with a further trend of longer lead times also seen until the contract start dates, top executives at deepwater driller Transocean said Feb. 20. And, despite a “strong” year of contracting in 2023, some investors have been concerned by a less-brisk pace of contracting awards… Upstream companies appear to be shifting their focus to longer-term durations for offshore deepwater contracts, with a further trend of longer lead times also seen until the contract start dates, top executives at deepwater driller Transocean said Feb. 20. And, despite a “strong” year of contracting in 2023, some investors have been concerned by a less-brisk pace of contracting awards… Read More