Global offshore rig fleet expands, contracts decline

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HOUSTON — The worldwide offshore rig fleet continues to grow with new rig deliveries even as the contracted offshore rig count continues to decline. The worldwide contracted rig count fell by four this week. With 611 rigs under contract out of 713 available, utilization now stands at 85.7 percent.

The U.S. Gulf of Mexico experienced declines of one rig each for total available offshore fleet and number of rigs under contract. With 81 of the 118 total offshore rigs deployed in the U.S. Gulf under contract, the region’s offshore rig fleet utilization rate is 68.6 percent.

The number of rigs under contract and total fleet size offshore South America grew by two each this week. With 81 of the 105 mobile offshore rigs in South America under contract, fleet utilization is 77.1 percent.

The number of rigs available and under contract in European waters are unchanged this week. With 102 rigs out of 103 available under contract, the region’s offshore rig fleet utilization rate stands at 99.0 percent.

Offshore West Africa, total fleet size and number of rigs under contract are unchanged. With 53 rigs out of 60 available under contract, utilization is 88.3 percent.

In the Middle East offshore rig market, the number of rigs under contract slipped by three, while total fleet size is unchanged. With 90 rigs out of 103 available under contract, fleet utilization is 87.4 percent. 

In the Asia/Australia offshore rig market, 106 rigs out of 114 available are under contract this week; fleet utilization is 93.0 percent.

For additional information, contact:  Karen Boman, at 832-463-3000, email [email protected].

 

U.S. Gulf of Mexico
  Today Last Week Month Ago Year Ago
Total Rigs in Drilling Fleet 118 119 118 126
Rigs Under Contract 81 82 88 92
Rigs w/o Contract 37 37 30 34
Fleet Utilization Rate 68.6% 68.9% 74.6% 73.0%
South America
  Today Last Week Month Ago Year Ago
Total Rigs in Drilling Fleet  105   103   102   91
Rigs Under Contract  81   79  78  67
Rigs w/o Contract 24  24  24  24
Fleet Utilization Rate  77.1%  76.7%  76.5%  73.6%
Europe/Mediterranean Sea
  Today Last Week Month Ago Year Ago
Total Rigs in Drilling Fleet 103 103 103 101
Rigs Under Contract 102 102 102 101
Rigs w/o Contract 1 1 1 0
Fleet Utilization Rate 99.0% 99.0% 99.0% 100.0%
West Africa
  Today Last Week Month Ago Year Ago
Total Rigs in Drilling Fleet 60 60 59 56
Rigs Under Contract 53 53 55 55
Rigs w/o Contract 7 7 4 1
Fleet Utilization Rate 88.3% 88.3% 93.2% 98.2%
Middle East
  Today Last Week Month Ago Year Ago
Total Rigs in Drilling Fleet 103 103 103 96
Rigs Under Contract 90 93 94 89
Rigs w/o Contract 13 10 9 7
Fleet Utilization Rate 87.4% 90.3% 91.3% 92.7%
Asia/Australia (excludes India)
  Today Last Week Month Ago Year Ago
Total Rigs in Drilling Fleet 114 114 114 101
Rigs Under Contract 106 108 109 97
Rigs w/o Contract 8 6 5 4
Fleet Utilization Rate 93.0% 94.7% 95.6% 96.0%
Worldwide
  Today Last Week Month Ago Year Ago
Total Rigs in Drilling Fleet 713 712 709 680
Rigs Under Contract 611 615 624 601
Rigs w/o Contract 102 97 85 79
Fleet Utilization Rate 85.7% 86.4% 88.0% 88.4%
Note:  The rig count tables above include all MODU types except tenders.
Offshore Platform Rigs 
In addition to mobile drilling units, 296 platform rigs are deployed worldwide.
Area Platform Rig Fleet Total Contracted Fleet Utilization Rate
U.S. Gulf of Mexico 54 34 63.0%
Europe/Mediterranean* 107 104 97.2%
Worldwide* 296 253 85.5%
*As of January 5, 2009 (updated quarterly).  Note that not every contracted unit is actually working.

 

http://www.energycurrent.com

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