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There was an interesting discussion in the comments section of my recent articles on offshore drilling: Sete Brazil is trying to sell four rigs, and everyone is trying to guess who will be the winning bidder and how the transaction will influence the situation in Brazil - the ultra-important market for ultra-deepwater drilling.
The story began back in 2018, when Petrobras (PBR) agreed to take four rigs on 10-year contracts with a dayrate of $299,000. The challenge for Sete is that it is plagued with debt and has to sell the rigs so