Offshore drilling rig activity highest in 2 years

April 12, 2001
North American drilling continued to decline this week, but offshore rig utilization hit a 2-year high in major world markets, officials reported Thursday. There were 1,198 rotary rigs working in the US and its waters this week, 2 less than the previous week but up from 809 during the same period last year.


By the OGJ Online Staff

HOUSTON, Apr. 12 -- North American drilling continued to decline this week, but offshore rig utilization hit a 2-year high in major world markets, officials reported Thursday.

There were 1,198 rotary rigs working in the US and its waters this week, 2 less than the previous week but up from 809 during the same period a year ago, said officials at Baker Hughes Inc. The number of US land rigs making hole was up by 10 to 1,011.

However, Canada�s seasonal rig count fell by 56 to 217 with the spring thaw. Last year at this time, the Canadian rig count was 155.

Louisiana led the US decline, down 13 rigs with a total 219 working this week. Wyoming�s rig count also was down 3 to 51.

Texas had 479 rigs working this week, 6 more than the previous week. Oklahoma and New Mexico each were up 3 to 147 and 78, respectively.

ODS-Petrodata Group reported 1 more mobile offshore rig under contract in the Gulf of Mexico this week, for a total 188 rigs contracted out of an available fleet of 210. That pushed total rig utilization to 89.5% in those waters, the highest level since July 3, 1998, when gulf rig utilization was at 92%, said Tom Marsh, associate publisher at ODS-Petrodata.

The European market was unchanged at 93.1%, with 94 mobile offshore rigs contracted out of a total 101.

However, global activity showed a net increase of 2 mobile offshore rigs under contract, up to 579 out of 648 available, with an overall utilization rate of 89.4%. That�s the highest total utilization among mobile marine rigs since Aug. 28, 1998, when the rate was 89.8%, Marsh reported.

Among offshore platform rigs, 249 are under contract out of 310 total worldwide, for 80% utilization.