Transocean's Norway Deal Marks New Rig-Rate Low in Oil Slump
- Daily rate of $180,000 is `sign of desperation,' analyst says
- Offshore drillers suffering from oil producers' spending cuts
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Transocean Ltd., the biggest offshore-rig operator, won a contract to drill four wells off Norway for Det Norske Oljeselskap ASA at a day rate of about $180,000, the lowest recorded tariff in the Nordic country since oil began to tumble last year.
“It’s a clear sign of desperation and how bad it’s become,” Janne Kvernland, an analyst at Nordea Markets, said Monday in an e-mail.