The month of November saw very few changes in the offshore rig market with nearly every category remaining flat. The total number of jackups, semis, and drillships under contract held steady at 433 rigs, which is the same as October. Meanwhile, only one rig has been removed from the global fleet, taking the total supply to a total of 767. As a result, rig utilization remained effectively the same at 56.4% in November. Nearly the same can be said for the number of rigs working, which had a one-unit decline this month to a total of 400.
– Justin Smith, Petrodata by IHS Markit