The offshore drilling market has improved a bit more over the last month. The total number of jackups, semis, and drillships under contract grew by five units from 473 in December to 478 rigs through January. Meanwhile, the global fleet has remained at the same size with a total supply of 760 rigs. As a result, utilization gained a small bit of ground, going from 62.3% in December to 62.9% in January. Meanwhile, the number of rigs working has also taken a jump, climbing by seven units from 448 in December to 455 in January.
– Justin Smith, Petrodata by IHS Markit
