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Rig Counts

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. The European offshore rig count increased by two rigs compared to last week. This week, 81 of the area's 106 mobile offshore drilling units are under contract. European offshore rig utilization now stands at 76.4 percent, the same as the U.S. Gulf offshore rig utilization rate. Worldwide, a net five rig increase in the offshore rig count boosted world offshore rig utilization to 76.6 percent. Currently, 487 of the world's 636 mobile offshore drilling units are under contract.


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


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.


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


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


US Oil Drillers Add Rigs for 7th Week in a Row

U.S. drillers this week added oil rigs for a seventh consecutive week, according to a closely followed report on Friday, even as analysts revise down rig count growth forecasts and energy firms become more cautious the longer crude holds below $50 a barrel.   Drillers added 15 oil rigs in the week to Aug. 12, bringing the total rig count up to 396, compared with 672 a year ago, energy services firm Baker Hughes Inc said. <RIG-OL-USA-BHI>  


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 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 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 Rig Count Recovers to Near Year-ago Levels

© Georg Lehnerer / Adobe Stock

The U.S. oil rig count ended 2016 just below year-ago levels as drillers added rigs this week as part of the biggest recovery since a global oil glut crushed the market over two years.   Drillers added two oil rigs in the week to Dec. 30, bringing the total count up to 525, the most since December 2015 and 11 shy of the 536 rigs seen at the end of 2015, energy services firm Baker Hughes Inc said on Friday.  


US Drillers Add Oil Rigs for 8th Week in a Row -Baker Hughes

U.S. energy companies added oil rigs for an eighth week in a row, extending a seven-month drilling recovery as crude prices remained near a 17-month high.   Drillers added 13 oil rigs in the week to Dec. 23, bringing the total count up to 523, the most since December 2015


Oil Prices Fall as US Drillers Add Rigs

Oil prices slipped on Friday, extending losses after data suggested drilling is ramping up in the United States, easing the focus on efforts by OPEC and other producers to support prices by cutting supplies.   U.S. crude futures for March delivery fell 98 cents, or 1.8 percent, to $52


Diamond Offshore Sees Recovery when Oil 'Well over $60'

Photo: Diamond Offshore Drilling Inc

Rig contractor Diamond Offshore Drilling Inc's Chief Executive Officer Marc Edwards said on Monday oil prices needed to be "well over $60" to spur a recovery in offshore drilling.   The company's shares reversed course and were down 2.3 percent at $16


US Drillers Continue to Add Oil Rigs

U.S. energy companies added oil rigs for a 14th week in the last 15, extending a nine-month recovery as drillers take advantage of crude prices that have held mostly over $50 a barrel since OPEC agreed to cut supplies in late November.  


US Oil Drillers Add Rigs for 5th Week in 6

U.S. drillers this week added oil rigs for a fifth week in six, according to a closely followed report Friday, prompting analysts to predict the rig count has bottomed and production will start to edge up early next year.   Drillers added 10 oil rigs in the week to July 8


US Oil Drillers Add Rigs for 5th Week in a Row

U.S. drillers this week added oil rigs for a fifth consecutive week, Baker Hughes Inc said on Friday, but the oilfield services provider and some analysts cast doubts on a substantial recovery in drilling this year with crude prices heading for their biggest monthly loss in a year.  


US Oil Drillers Add Rigs for 6th Week in a Row

U.S. drillers this week added oil rigs for a sixth consecutive week, according to a closely followed report on Friday, despite crude prices falling to April lows below $40 a barrel this week.   Some producers are still boosting spending on expectations for higher prices in the future.


Oil Extends Rally on Possible Producer Action

Oil prices were up about 1 percent on Friday, on track for their biggest weekly gains since May, after a short covering rally was triggered by comments from Saudi Arabia's oil minister in the previous session about possible action to help stabilize the market.  


US Oil Drillers Add Rigs for 8th Week in Row

U.S. drillers this week added oil rigs for an eighth consecutive week, the longest recovery streak in the rig count in over two years, as crude prices rebounded toward the key $50-a-barrel mark that makes the return to the well pad viable.  


US Oil Drillers Add Rigs for 11th Week in 12

U.S. drillers this week added oil rigs for an 11th week in the past 12, according to a closely followed report on Friday, although the rate of increases has slowed as crude prices remain below the key $50 a barrel level that spurs a return to the well pad.  


US Rig Count Recovery Hinges on $50 Oil Post-OPEC Meeting

U.S. oil drilling has seen its best quarter since crude prices tumbled two years ago mainly due to small operators returning to the well pad, but analysts say the continued recovery in the rig count depends on whether OPEC's output reduction plan can bring the market back to $50 a barrel.  


US Drillers Extend Rig Recovery

The number of rigs drilling for oil in the United States rose again this week, extending its second-best streak of no cuts into a 17th straight week, with analysts expecting more additions as crude prices hold over $50 a barrel.   Drillers added 11 oil rigs in the week to Oct


US Drillers Continue to Add Oil Rigs -Baker Hughes

U.S. oil drillers increased rigs this week for a 21th week in the last 24, as energy firms follow through on plans to add rigs made months ago when crude was still trading over the key $50 a barrel level analysts said should lead to more drilling.  


US Drillers Add the Most Oil Rigs Since July 2015

© Georg Lehnerer / Adobe Stock

U.S. energy companies this week added the most oil rigs since July 2015, extending the seven-month drilling recovery as crude prices rose to a near 17-month high.   Drillers added 21 oil rigs in the week to Dec. 9, bringing the total count up to 498, the most since January


US Drillers Add Oil Rigs for 7th Week in a Row

U.S. energy companies this week added oil rigs for a seventh week in a row, extending a seven-month drilling recovery as crude prices held near a 17-month high.   Drillers added 12 oil rigs in the week to Dec. 16, bringing the total count to 510, the highest since January






 
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