Rig Counts Fall Since Last Week

Friday, September 24, 1999
The U.S. Gulf of Mexico offshore rig count lost some of the ground it had made up in the last few weeks, according to Offshore Data Services' weekly mobile offshore rig count. The U.S. Gulf offshore rig count fell by two rigs on a week-to-week basis. The decline ends a five-week rally of higher utilization rates in the region. This week, 133 of 188 mobile offshore drilling units in the U.S. Gulf are under contract. U.S. Gulf rig utilization is 70.7 percent. The European offshore rig count also fell since last week. This week, two fewer rigs are under contract and European offshore rig utilization fell from 74.6 percent to 74.1 percent. Of the 107 mobile offshore drilling rigs in the area, 80 now are under contract. The worldwide offshore rig count fell by four on a week-to-week basis. This week, 467 of world's 630 mobile offshore drilling units are under contract. Worldwide offshore rig utilization is 74.1 percent.

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