U.S. Gulf rig utilization still climbing

U.S. Gulf rig utilization still climbing U.S. Gulf and worldwide offshore rig demand increased again this week, according to Offshore Data Services' weekly mobile offshore rig count. Offshore rig utilization in the U.S. Gulf is at 85.5 percent. U.S. Gulf rig utilization has not been this high since August 1998. This week the number of rigs under contract rose to 177; only 30 of the region's 207 rigs are available.

Worldwide offshore rig utilization rose slightly to 85.0 percent, its highest level since November 1998. Of a total of 642 offshore rigs worldwide, 546 are under contract.

European rig utilization remains unchanged from last week at 87.4 percent. Of 103 total rigs available in this region, 90 have contracts. (Offshore Data Services)