The offshore rig market experienced modest improvements across every category during January. The total number of jackups, semis, and drillships under contract grew by two units to 432 rigs. However, it has been at roughly this same level for several months now.
Meanwhile, five more rigs have been removed from the global fleet, taking the total supply down to 759. As a result, rig utilization had a bump up to 57.0% from 56.3% in December. The number of rigs working experienced a similar increase, climbing from 398 units in December to 402 in January.
– Justin Smith, Petrodata by IHS Markit