Gulf Of Mexico Rig Count Declines

Friday, December 17, 1999
The U.S. Gulf of Mexico rig count declined for the first time in four weeks, according to Offshore Data Services' weekly mobile offshore rig count. This week, 149 of the 191 rigs deployed in the U.S. Gulf of Mexico are under contract, two less than were under contract last week. U.S. Gulf offshore rig utilization now stands at 78.0 percent. The European offshore rig count declined by one rig, the result of a contracted rig moving out of the area. This week, 73 of the 106 mobile offshore drilling rigs in European waters are under contract and European offshore rig fleet utilization is 68.9 percent. A net two-rig decline in the worldwide offshore rig count occurred from last week to this week. With 478 of the world's 632 mobile offshore drilling rigs under contract, worldwide offshore rig utilization now stands at 75.6 percent.
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