Westwood expects drillship committed utilization to rise from 92% in 2025 to 97% by 2027, matching its 2023 peak, while semis are forecast to reach 86% next year. Jackup utilization is also expected to increase next year, albeit by only 1% compared with this year and still several percentage points below the 93% seen in 2024. While there is room for jackups to grow, roughly half of 2027 jackup demand is still planned or forecast rather than firm, compared with about only 20% for floaters. Source: Westwood RigLogix (Click the image to enlarge.)
