Maintaining utilisation at low rates

Noble announced in its fleet status report after US market close that it has secured a 3-year job for the Noble Bob Douglas (10,000ft drillship) with Exxon offshore Guyana. We believe this is the job for the Liza development for which a competitive tender has been ongoing. No dayrate is disclosed, but multiple channel checks suggest the dayrate is in the USD140–150k range. Despite being below consensus and suggesting dayrates are at depressed levels around operating costs until early 2021, we be...