Worldwide offshore rig count and utilization rate

July 1, 2019

The offshore drilling market experienced a slight improvement in April, although only by a small margin. The total number of jackups, semis, and drillships under contract grew by three units to 438 rigs. Meanwhile, the global fleet of rigs remained flat for the last three months, hanging steady at a total supply of 758. As a result, rig utilization had a very slight increase from 57.4% in March to 57.8% in April. At the same time, the number of rigs working experienced a four-rig increase, rising from 403 in March to 407 in April.

– Justin Smith, Petrodata by IHS Markit