Offshore rig utilization at lowest level since 2000

HOUSTON, TEXAS: The worldwide offshore rig count declined this week by a net five rigs, according to ODS-Petrodata’s Weekly Mobile Offshore Rig Count.

This week, 589 of the world’s 723 active mobile offshore drilling units are under contract, and worldwide offshore rig fleet utilization is 81.5 percent. This is the lowest worldwide offshore rig fleet utilization rate recorded since October 2000.The number of rigs under contract in the U.S. Gulf of Mexico is unchanged this week, but a rig has left the region’s fleet, giving a slight boost to utilization. This week, with 71 of the 114 mobile offshore drilling rigs in the U.S. Gulf under contract, fleet utilization is 62.3 percent. More rigs are expected to leave the depressed U.S. market as the year progresses. The South American and European offshore rig counts are unchanged this week. With 82 of 108 mobile offshore drilling units under contract in South America, the region’s fleet utilization rate remains 75.9 percent. In European waters and the Mediterranean Sea, 103 of 106 mobile offshore rigs are under contract for a healthy fleet utilization rate of 97.2 percent.

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