Offshore Rig Count: Global rig supply falls two units

Source: ODS-Petrodata
By Cinnamon Odell

This week the number of mobile offshore drilling units in the world decreased by a net two rigs to stand at 790 rigs, as four units were scrapped and another two were delivered. With 576 units under contract this week, an increase of four from last week, worldwide utilization has risen to 72.9 percent. 

The US Gulf of Mexico was directly affected by the scrapped units, reducing the fleet to 126 units. However, the number of rigs with contracts increased by three from last week to 63. Regional utilization is now 50.0 percent. Within South America, the number of offshore rigs fell by one from last week, as did the number of rigs with contracts. With 99 out of 125 units under contract, the resulting utilization rate is 79.2 percent. 

The fleet count in European waters and the Mediterranean Sea is unchanged this week at 117 mobile offshore drilling units, while the number of rigs under contract is up by one at 96. Regional utilization has risen to 82.1 percent. The utilization rate in West Africa also improved this week. The fleet count is up four from last week, as is the number of rigs under contract. With 50 out of 66 rigs under contract, utilization is 75.8 percent. 

In the Middle East, the fleet count and the number of rigs under contract are unchanged this week. With 88 out of 119 offshore units contracted, the regional utilization rate remains 73.9 percent. In the Asia/Australia market, the fleet count fell one to 139, and the number of rigs under contract fell by two units to 101, resulting in a utilization rate of 72.7 percent.

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