Rig operators have impaired for billions of dollars – several will have to fight hard to survive

Impairments in the rig sector reach USD 10 billion in the first half of the year, as share prices have plunged and several players have filed for bankruptcy protection. More impairments and Chapter 11 filings are expected.

Photo: Russell Cheyne/Reuters/Ritzau Scanpix

by SØREN PICO

Huge sums have disappeared from the drilling market in 2020, with drastic dives in share prices and multi-billion dollar impairments.

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