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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.


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


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


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


Woldwide Offshore Rig Utilization Plummets

Offshore rig utilization fell in the world's most active markets during the week ending July 6, according to ODS-Petrodata Group. U.S. Gulf of Mexico rig utilization dropped 1.5 percent to 85.8 percent this week, with 182 rigs under contract out of a total of 212. European rig utilization fell 1.0 percent to 95.1 percent this week with 97 of the region's 102 rigs under contract, according to ODS, while worldwide rig utilization fell 0.7 percent to 89


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.


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 Utilization Hits 2-Year High

Worldwide offshore rig utilization hit a fresh two-year high the week ending March 23, according to ODS-Petrodata Group. Global rig utilization climbed 0.5 percent to 88 percent, due to a three-rig net increase in contracted rigs, ODS-Petrodata reported. Of the world's 649 offshore rigs, 571 are under contract. Utilization is the highest since October 2, 1998 when it reached 88.7 percent. U.S. Gulf rig utilization remained unchanged at 88


Bassoe Offshore Launches RigBase

RigBase, a web-based resource for the offshore drilling industry, is launched today by Bassoe Offshore Consultants. RigBase is a rig market information system that provides subscribers with continuous, rolling worldwide rig market news -- all taken from primary sources, access to Bassoe Offshore Consultants' (BOC) comprehensive offshorerig database, regular regional email newsletters and professional opinion and analysis. RigBase is available by subscription.


Drilling Rig Delivered in Las Palmas

Ocean Valiant

Fairmount Marine’s tug Fairmount Summit has delivered rig Ocean Valiant safely in the port of Las Palmas, Canary Islands. Fairmount Summit has towed the rig from offshore Cameroon over a distance of almost 3,000 miles. The Ocean Valiant is a semi-submersible drilling rig owned by Diamond Offshore Drilling Inc., headquartered in Houston, U.S. The 1988 build rig is 122 meters long, 71 meters wide and 37 meters high, is capable to drill up to 10


Mermaid Maritime Bags Subsea Contracts, Delays Newbuilding

Photo: Mermaid Maritime

 Thailand’s Mermaid Maritime said it has been awarded a number of subsea contracts in the Middle East with a total worth of $11million.   It has also reached an agreement with builder China Merchants Industry Holdings to postpone the delivery dates for its new assets currently


Hercules Offshore Filing for Bankruptcy Again

(Photo: Hercules Offshore)

Hercules Offshore Inc said it planned to file for prepackaged Chapter 11 bankruptcy, just six months after the rig contractor emerged from bankruptcy protection. The company said it had entered into a restructuring support agreement with some lenders


Russian Shipbuilder Wins $1 bln Iran Oil Rig Deal

Russian shipbuilder Krasnye Barrikady has been awarded a near-$1 billion contract by Iran to build five offshore drilling rigs for use on Iran's part of the Gulf shelf, a company official told Reuters. The project, which was under discussion for almost two years


US Oil Rig Count Steady for First Time This Year

U.S. energy firms this week kept the number of rigs drilling for oil unchanged for the first time this year, services company Baker Hughes Inc said on Friday, as crude futures trade near a seven-month high.   Drillers kept the number of rigs at 318 in the week to May 20


DryShips Posts Profit for 1Q

Photo: DryShips Inc

 Greece-based DryShips Inc. (DRYS) reported first-quarter of 2016 net income of $55.4 million, after reporting a loss in the same period a year earlier.    The company said it had profit of $2.05 per share. Losses, adjusted for non-recurring gains, came to 78 cents per share.


ALP's Long-range Oceangoing Tug Named ALP Striker

ALP Striker (Photo: ALP)

ALP Striker, named at a ceremony held named on May 13, 2016, is the first of four ultra-long distance towing and anchor handling vessels for ALP Maritime Services, each with a bollard pull of approximately 300 metric tons.   The vessels of the SX157 design are a part of the ALP


Kim Heng Offshore Inks Pact with Iran Marine

Image: Kim Heng Offshore & Marine

 The Singapore-based  offshore services provider Kim Heng Offshore & Marine has signed a memorandum of understanding with the Iran Marine Fund (IMF)to provide its technical expertise and financing to Iranian offshore marine and oil & gas projects.  


US Oil Drillers Cut Rigs for 8th Week to Oct 2009 Lows

U.S. oil drillers cut rigs for an eighth week in a row to the lowest level since October 2009, oil services company Baker Hughes Inc said Friday, even with futures at six-month highs as some energy firms focus on completing wells rather than drilling new ones.  


New Zealand’s Freight Traders Imports Drilling Rigs

Photo: Freight Traders

Freight Traders Ltd arranged the duty free importation of two Dillmec drilling rigs into New Zealand.   This included various mobilizations and demobilizations to remote New Zealand locations in the central north island. With the drilling campaigns complete


Ensco Lost 2 Petrobras Contracts

Image: Ensco Plc

 Ensco Plc has concluded discussions with Petrobras regarding revised commercial terms with respect to some rig contracts.   Ensco 6003 and Ensco 6004 had their contracts terminated effective May 1, 2016 by mutual agreement.  


Keppel Acquires LeTourneau

Keppel Offshore & Marine (Keppel O&M), through its wholly owned subsidiary, Keppel Offshore & Marine USA, Inc., has completed the acquisition of Cameron International Corporation's offshore product division, which comprises the LETOURNEAU jackup rig designs, rig kit business


Shipping Industry Flying On The Dragon’s Back

Graph: Clarksons Research

 As the many Greek players in the shipping industry know well, the legend of Icarus tells us the dangers of flying too high. Merchant vessel earnings eventually found their 2008 heights just as unsustainable, even as some talked of a “new paradigm”.  


Ocean Rig buys Cerrado drillship

Photo: Ocean Rig

 Cyprus-based Ocean Rig has stepped in to buy the sixth generation ultra-deepwater (UDW) drillship Cerrado, which once drilled the giant Libra prospect offshore Brazil, following its owner Brazil-based Schahin Group bankruptcy declaration last April.  


Transocean Provides Fleet Status Report

Photo: Transocean Ltd

 Transocean, the world's leading offshore drilling contractor with 61 rigs in its fleet, has issued a Fleet Status Report that provides the current status of and contract information for the company's entire fleet of offshore drilling rigs.   


Keppel's Profit Nosedives

Photo: Keppel Corp

 Keppel Corp., the world’s largest builder of oil rigs, posted a 41 per cent fall in quarterly profit, its fourth straight decline, as offshore and marine segment revenue slumped because of the deferment of some projects and suspension of contracts related to Sete Brasil.  






 
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