Worldwide, Regional Offshore Rig Counts Show Little Movement

Friday, October 15, 1999
Worldwide and regional offshore rig counts showed little change since last week, according to Offshore Data Services' weekly mobile offshore rig count. In the U.S. Gulf of Mexico, one less rig is under contract this week compared to last week. In addition, one rig is moving into the area from Europe. The rig does not yet have a contract, but is expected to have work shortly after arrival. U.S. Gulf of Mexico rig utilization fell to 73.5 percent this week from 74.9 percent last week as a result of the one-rig decline in the contracted count and the movement of the additional rig into the area. This week, the U.S. Gulf offshore drilling fleet is comprised of 189 rigs, 139 of which are under contract. The number of rigs under contract in Europe is unchanged since last week at 77. With the movement of one rig to the U.S. Gulf of Mexico, the European offshore drilling fleet now numbers 107 rigs. Fleet utilization is 72.0 percent. The one-rig decline in the U.S. Gulf rig count is reflected in the worldwide rig count. This week, 472 of the world's 630 mobile offshore drilling rigs are under contract. Worldwide offshore rig utilization is 74.9 percent.
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