Baker Hughes Incorporated announced that the international rig count for June 2002 was 730 up 12 from the 718 counted in May 2002 and down 30 from the 760 counted in June 2001. The international offshore rig count for June 2002 was 232 up 13 from the 219 counted in May 2002 and unchanged from the 232 counted in June 2001. The US rig count for June 2002 was 843 up 17 from the 826 counted in May 2002 and down 428 from the 1,271 counted in June 2001. The Canadian rig count for June 2002 was 205 up 91 from the 114 counted in May 2002 and down 97 from the 302 counted in June 2001. The worldwide rig count for June 2002 was 1,778 up 120 from the 1,658 counted in May 2002 and down 555 from the 2,333 counted in June 2001.
Offshore Rig Counts Increase The U.S. and European offshore rig counts increased since last week, according to Offshore Data Services' weekly mobile offshore rig count. In addition, one new rig joined the worldwide drilling fleet. The U.S. Gulf of Mexico rig count posted a net three-rig increase over last week. With 149 of the area's 195 mobile offshore drilling rigs now under contract, U.S. Gulf offshore rig utilization is 76.4 percent.
The U.S. Gulf of Mexico offshore rig count is at its highest level in nearly a year, according to Offshore Data Services' weekly mobile offshore rig count. A four-rig increase in the U.S. Gulf rig count over last week boosted the count to 140, the highest level since October 16 of last year. The 187-rig U.S. Gulf drilling fleet's utilization rate is now 74.9 percent. As utilization approaches and then exceeds 80 percent, rig owners should benefit in the form of improving rig day rates.
Rig demand increased in the U.S. Gulf of Mexico and declined slightly in Europe, following a pattern that is likely to be repeated through the end of this year at least. According to Offshore Data Services' weekly mobile offshore rig count, the U.S. Gulf rig count increased by three rigs since last week. Today, 136 of the region's 187 mobile offshore drilling units are under contract and U.S. Gulf mobile offshore rig utilization is 72.7 percent.
The U.S. Gulf of Mexico rig count stands at 150 this week, its highest level since July of 1998. According to Offshore Data Services' weekly mobile offshore rig count, 150 of the 191 offshore rigs in the U.S. Gulf of Mexico are under contract this week. U.S. Gulf mobile offshore rig utilization is 78.5 percent. The improved rig count has been driven primarily by strong domestic natural gas prices, however, natural gas prices have weakened in recent weeks
Baker Hughes announced that the international rig count for August 2008 was 1,087, down 5 from the 1,092 counted in July 2008, and up 78 from the 1,009 counted in August 2007. The international offshore rig count for August 2008 was 292, down 20 from the 312 counted in July 2008 and up 12 from the 280 counted in August 2007. The rig count for August 2008 was 1987, up 55 from the 1,932 counted in July 2008 and up 183 from the 1,804 counted in August 2007
Worldwide offshore rig utilization declined slightly since last week, according to Offshore Data Services' weekly mobile offshore rig count. Two less mobile offshore drilling rigs are under contract worldwide this week compared to last week. With 484 of the world's 634 offshore drilling rigs now under contract, worldwide offshore rig utilization is 76.3 percent. A one-rig decline in the U.S. Gulf of Mexico rig count occurred since last week
Schlumberger Limited reported 1999 second quarter operating revenue of $2.17 billion was 29 percent below second quarter 1998. Net income was $127 million, 67 percent lower than the same period last year. Oilfield Services revenue decreased 32 percent, while the rig count fell 34 percent. Revenue fell in all the geographic regions and across all Oilfield Services activities. Resource Management Services revenue was down six percent
Worldwide offshore rig utilization climbed slightly the week ending March 9, according to ODS-Petrodata Group. Global rig utilization climbed 0.1 percent to 87.4percent, due to a one-rig net increase in contracted rigs, ODS reported. U.S. Gulf rig utilization was unchanged at 88.2 percent, with 186 out of the region's 211 mobile offshore rigs under contract. European offshore rig utilization decreased by 0.1 percent to 92
Land rig provider Patterson-UTI Energy Inc has halved its full-year rig construction program to 16 new high-tech APEX rigs as oil producers cut back on drilling due to weak prices. Patterson's decision follows rival Helmerich & Payne Inc's announcement last week that it would halve its FlexRig construction program. Oil producers have been slashing capital expenditure budgets in the wake of a sustained fall in oil prices, dealing a blow to rig providers and oilfield service providers
U.S. energy firms cut a surprisingly sharp 13 oil rigs this week, the first drop in seven weeks, as a renewed slump in prices this summer forced drillers to make a second round of cut-backs. The decline erases weeks of small gains and brings the total to the week ending Sept
U.S. energy firms cut oil rigs for a third week in a row this week, data showed on Friday, a sign the latest crude price weakness was causing drillers to put on hold plans announced several months ago to return to the well pad. Drillers removed 8 rigs in the week ended Sept
U.S. energy firms cut oil rigs this week for a seventh week in a row, the longest streak of reductions since June, data showed on Friday, a sign low prices continued to keep drillers away from the well pad. Drillers removed 10 oil rigs in the week ended Oct
U.S. energy firms this week added oil rigs for the first week in 11, data showed on Friday, despite continued weak crude prices. Drillers added 2 oil rigs in the week ended Nov. 13, bringing the total rig count up to 574, oil services company Baker Hughes Inc said in its closely followed
New report covers market trends to 2019 for global offshore support vessel (anchor handling, towing and supply vessel, platform supply vessel, multipurpose service vessel, crew vessels, standby and rescue vessels, others) The global offshore support vessel market is expected to grow owing
Venezuela's petroleum export basket dropped to $42.44 per barrel this week from $47.05 last week to reach a 5-1/2-year low, the Petroleum Ministry said on Friday. The South American OPEC member's basket, which includes crude oil and refined products
The number of U.S. oil and gas rigs declined by 48 last week, according to data released today by Baker Hughes, which shows the number of U.S. rigs is now down to 1,310, a decrease of 461 from a year ago and the lowest since January 2010.
Brent premium over U.S. crude widens to $12; China's implied oil demand set to grow 3 percent this year. Crude oil futures rebounded on Friday and Brent headed for its first monthly gain since July, helped by strong investor inflows, an improving demand outlook and supply outages.
The falling number of rigs drilling for oil in the United States is pointing to a decline in U.S. oil production in the second quarter, Goldman Sachs analysts said on Monday. Rig count in the United States fell by 56 last week to 866, the fewest since March 2011
Fleet Optimization is a broad term which might be described as the best practices and equipment that will make any collection of vessels more environmentally correct, economical and yes, attractive to prospective charterers. In this edition, it means whatever I say it means
Drilling contractor Hercules Offshore Inc forecast a challenging year ahead as demand for its rigs remains weak with producers scaling backing drilling due to a slump in global oil prices. Shares of the company, which reported a smaller-than-expected loss
The fall in the U.S. oil rig count slowed this week, data showed on Friday, suggesting the collapse in drilling may be coming to an end as prices recover after falling 60 percent from June to March. The oil rig count fell by 24 this week to 679 active rigs
Vessels are stacked as Gulf oil operators retrench and day rates fall. In the Gulf of Mexico, vessels serving offshore oil-and-gas exploration and production are being stacked or idled as the rig count there declines. Oil companies are retrenching while crude prices remain weak
How much US shale oil production is taken out of service will be a key driver of future tanker shipping earnings, according to the latest edition of the Tanker Forecaster, published by global shipping consultancy Drewry. Tanker operators are pinning their hopes on a rise in US crude oil imports
U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June, data showed on Friday. That was a sign some drillers followed through on plans to add rigs announced in May and