By OGJ editors
HOUSTON, Nov. 6 -- Robust oil and gas prices continue to drive fleet growth in the drilling market, and the number of land and marine drilling rigs continues to increase worldwide, according to Grant Prideco's 54th annual ReedHycalog Rig Census.
North American rig fleet utilization has decreased over the past year, however.
The US fleet rose to 2,817 rigs, up 23% from 2006, but utilization dropped to 85%, down 11% from a year earlier. The total number of US rig owners increased to 310, up 53 from 2006, as more companies entered the drilling market.
The Canadian fleet reached a record high of 871 rigs, up 9% from 2006, but utilization fell to 43%, down from 84% utilization in 2006.
The survey also tracks mobile offshore drilling units. The global MODU fleet remained about the same, down only 4 units, but utilization rose to 88%, up from 85% in 2006.
ReedHycalog Pres. John Deane presented the results of the rig census and associated drilling contractor survey on Nov. 2 at the International Assocication of Drilling Contractors' 2007 annual meeting in Galveston, Tex. The census data represents activity during a 45-day period, May 2-June 15, 2007. A summary of the data is available online at www.grantprideco.com/rhrigcensus/2007censushistory.xls.
