The international jack-up drilling heavyweights Shelf Drilling and Borr Drilling are seeing an improvement in market conditions and are looking optimistically at full fleet utilisation in 2022.

Both companies specialise in the provision of shallow-water jack-up drilling rigs which are working in locations around the world.

This week they reported third-quarter results to the Oslo Stock Exchange.

Shelf said as at November 2021, 27 of its 30 marketable jack-up rigs are under contract.