Barclays says recent rig orders and bullish outlooks reinforce its view of a structural shift...

|By:, SA News Editor

Barclays says recent rig orders and bullish outlooks reinforce its view of a structural shift towards deepwater drilling which will drive demand for oil service equipment suitable for these environments. The firm says the tightness in deepwater is a clear positive for DO, RIG, ESV, SDRL and NBL, which enjoy continued dayrate improvements for almost all rig classes.