Oslo-listed offshore drilling companies Seadrill and Borr Drilling have today reported near full utilisation of their rig fleets and remain confident about the outlook for the deep-water and shallow-water markets in which they specialise.

Deep-water specialist Seadrill reported a strong operational performance in the first quarter of 2023 with “technical” rig utilisation of 96%.

Seadrill added $39 million of order backlog during the quarter, bringing the total as of 31 March 2023 to $2.2