Offshore Rig Count: Utilization rate remains unchanged

Source: ODS-Petrodata
By Cinnamon Odell

This week the number of mobile offshore drilling units and the number of offshore rigs under contract worldwide are unchanged at 792 and 573, respectively. The resulting utilization rate remains 72.3 percent.
The rig count in the US Gulf of Mexico also remained steady this week. With 62 out of 131 offshore drilling rigs under contract, the regional utilization rate is 47.3 percent. In South America, the rig count also remained unchanged from last week, as 98 out of 124 units are under contract, giving a utilization rate of 79.0 percent. 

However, in European waters and the Mediterranean Sea, the number of offshore rigs in the fleet grew by two to 117, and the number of rigs under contract increased three to 93. The regional utilization rate is now 79.5 percent. The West African fleet count fell by one again this week to now stand at 62, and the number of rigs under contract also fell by one last week to 45. The resulting utilization rate has fallen to 72.6 percent. 

Within the Middle East, the fleet count and the contracted rig count are unchanged this week. With 90 out of 119 units under contract, utilization is steady at 75.6 percent. In the Asia/Australia region, the number of mobile offshore drilling rigs fell by two, while the number of rigs under contract decreased by three. With 105 out of 141 offshore units under contract, the utilization rate is now 74.5 percent.

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