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Rig Counts

Baker Hughes Announces June 2002 Rig Counts

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 Report

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.


Baker Hughes Announces August 2008 Rig Counts

  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


U.S. Offshore Rig Count Hits 17-Month High

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


U.S. Offshore Rig Demand Continues To Rise

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.


Offshore Rig Demand Rises In U.S., Falls In Europe

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.


Offshore Rig Utilization Declines Slightly

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


Offshore Rig Use Up

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


US Oil Drillers Add Rigs for First Week in Five

U.S. energy firms this week added oil rigs for the first time in the last five weeks, data showed on Friday, despite continued weak crude prices.   Drillers added 17 oil rigs in the week ended Dec. 18, bringing the total rig count up to 541, oil services company Baker Hughes Inc said in its closely followed report.   That is about a third of the 1,536 oil rigs operating in same week a year ago. Since the end of the summer, drillers have cut 151 oil rigs.  


Schlumberger Announces 2Q Results

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


US Oil Drillers Cut Rigs for 6th Week

U.S. energy firms cut oil rigs for the sixth straight week, data showed on Friday, and were expected to shed more in coming weeks with three major U.S. shale oil companies slashing their spending plans after crude prices hit 12-year lows.  


U.S. Drillers Cut Rigs to Lowest Number in Almost 6 Years

U.S. energy firms this week continued to cut the number of rigs drilling for oil to the lowest in nearly six years, data showed on Friday, suggesting drillers were preserving cash as they evaluate spending plans as crude prices hover near 12-year lows.


US Oil Rig Count Lowest Since 2010

The U.S. oil rig count this week dropped to the lowest level in over five years as energy firms stepped up the rate of idling rigs after one of the worst years in almost 30 years for drilling, data showed on Friday.   Drillers removed 20 oil rigs in the week ended Jan


Baker Hughes: Rig Counts Continue to Fall

 Baker Hughes  announced that the international rig count for December 2015 was 1,095, down 14 from the 1,109 counted in November 2015, and down 218 from the 1,313 counted in December 2014. The international offshore rig count for December 2015 was 250


US Oil Drillers Cut Rigs for a 6th Week in 7

U.S. energy firms cut oil rigs for a sixth week in the last seven, data showed on Thursday, a sign drillers were still waiting for higher prices before returning to the well pad.   Drillers removed 2 oil rigs in the week ended Dec. 31, bringing the total rig count down to 536


U.S. Crude Up on Supply, Export Variables

U.S. crude prices up 9 pct this week; at slight premium over Brent for most of day. U.S. crude prices rose for a fourth straight session on Thursday, headed for a 9 percent weekly gain in the lead-up to Christmas as the market tightened on the back of falling supplies and looming exports.


US Oil Drillers Cut Rigs for 14th Week in 15

U.S. energy firms this week cut oil rigs for a 14th week in the last 15, data showed on Friday, a sign drillers were still waiting for higher prices before returning to the well pad.   Drillers removed 21 oil rigs in the week ended Dec


OSV Owners Face Bankruptcy Risk

Platform Supply Vessel near the offshore platform. Photo by Damen Shipyards Group

 More than half of the public companies in the offshore supply-vessel industry face a high probability of restructuring or bankruptcy, Bloomberg reported quoting a research released from the consulting firm AlixPartners.   Even before crude prices collapsed and triggered a retreat from


US Oil Rigs Cut for 13th Week in 14

U.S. energy firms this week cut oil rigs for the 13th week in the last 14, data showed on Friday, a sign drillers were still waiting for higher prices before returning to the well pad.   On Friday, OPEC decided to keep production near record highs despite depressed prices


US Oil Drillers Add Rigs for First Week in 11

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


US Oil Drillers Cut Rigs for 7th Week

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


US Oil Drillers Cut Rigs for Third Week on Weak Crude Prices

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


US Oil Drillers Cut Rigs as Crude Prices Collapse

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. Drillers Add Rigs Despite Crude Collapse

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


Tanker Shipping's Fortunes Rest on US Shale Oil Production

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






 
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