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 89.0 percent with 580 out of 652 worldwide rigs under contract.