The offshore drilling market has regressed somewhat in terms of utilization.
The offshore drilling market has regressed somewhat in terms of utilization. The total number of jackups, semis, and drillships under contract fell from 439 in August to 432 through October. At the same time, the global supply of rigs keeps shrinking, this time from 686 in August to 683 in October. As such, utilization has fallen slightly from 64.0% in August to 63.3% through October. Meanwhile, the number of rigs working worldwide also took a step back, falling to 408 units through October from the 415 working in June.
