Offshore Rig Count: Utilization slightly down this week

Source: ODS-Petrodata
By Cinnamon Odell

The global supply of offshore drilling rigs is unchanged this week at 790 units. However, the number of rigs under contract fell by one to 571, reducing the worldwide utilization rate slightly to 72.3 percent. 

In the US Gulf of Mexico, the fleet count grew by five units, as five jackups that had previously been working in Mexico were mobilized to the US Gulf. Out of 131 mobile offshore drilling units, 61 are under contract, giving a regional utilization rate of 46.6 percent. The South American rig count is unchanged yet again this week. With 97 out of 123 offshore rigs under contract, utilization stands at 78.9 percent. 

The number of offshore rigs in European waters and the Mediterranean Sea remains at 116, while the number of rigs under contract fell by one this week to 92. The resulting utilization rate is 79.3 percent. The fleet count in West Africa is unchanged from last week. With 46 out of 64 mobile offshore drilling units under contract, the utilization rate is 71.9 percent. 

In the Middle East, the fleet count decreased by one from last week to 118. The number of rigs under contract also fell by one, now totaling 89. Utilization is down slightly at 75.4 percent. In the Asia/Australia market, the number of offshore rigs fell by one, and the number of rigs under contract fell by two. With 106 out of 141 mobile offshore drilling units under contract, utilization is 75.2 percent.

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