Drillinginfo: Average cost of state-of-the-art drilling rig reaches $25 million

Enverus’ Drillinginfo said last week new state-of-the-art drilling rigs are estimated to cost about $25 million each based on a recent announcement by Abu Dhabi National Oil Co. “We do not look for many new rigs to enter the U.S. market any time soon given the softening environment,” Enverus said Dec. 5. Abu Dhabi National said it acquired four rigs built by NOV for $100 million. There were fewer newly-built rigs added to the U.S. fleet in the past four years than the number of new rigs deployed in 2015, according to National Oilwell Varco 66th annual rig census.