IHS Petrodata Weekly Rig Count

May 17, 2013

Global fleet utilization on the rise

The number of worldwide offshore drilling rigs with contracts continues to increase week over week to 727, compared to 725 last week. With a total offshore drilling fleet of 849, this yields a global fleet utilization rate of 85.6 percent.

The US Gulf of Mexico rig supply has decreased by one unit from 111 to 110 units with the departure of a newbuild jackup, destined for Mexico. Likewise, the contracted count has decreased by one to 79 creating an effective fleet utilization rate of 71.8 percent. The South American offshore drilling rig market remains unchanged, with supply standing at 135 and the contracted count at 108. The fleet utilization rate holds steady at 80.0 percent.

Offshore Europe and the Mediterranean, the offshore drilling unit supply has increased by one unit to 120. Contracted units have also increased by one to 113, creating an increased utilization rate of 94.2 percent. Offshore West Africa, the drilling rig supply and contracted counts are unchanged. With 64 out of 67 units under contract, the fleet utilization rate is 95.5 percent.

The Middle East has seen its offshore fleet supply increase by one to 139, while the contracted count has increased by two to 119. As a result of these changes, the adjusted fleet utilization rate is 85.6 percent. Offshore Asia and Australia, the mobile drilling fleet has decreased by one to 151, while the contracted count is unchanged from last week at 128. The region’s fleet utilization rate has increased to 84.8 percent.

For additional information, contact: Cinnamon Odell at +1 832 463-3000.

View the IHS-Petrodata Offshore Rig Day Rate Index report.