Oversupply or Replacement of Rigs?

Simple bar graph below shows the fear of oversupply everybody is concerned about in the drilling industry. Graph shows the approximate number of rigs, including jackups, semisubmersibles and drillships which will delivered from now till 2016 from just the big three rig building nations. Ofcourse this number will change if there are intentional or unintentional delays and cancellations or if more are ordered.

But one thing that is for sure that the fear is for real!!