Offshore drilling market is in a very strong position thanks to global rig demand and the booming oil and gas exploration and production business, said Diamond Offshore chairman James Tisch.
Day rates for sixth-generation rigs have risen from $400,000 several years ago to between $550,000 and $600,000 he said Wednesday on CNBC.
Spot prices for natural gas are way up from where they have been, Tisch said.
Tisch calculated that another 7,000 to 10,000 permanent jobs are created in the US for every additional billion cubic feet of gas production.