Weekly Global Offshore Rig Counts

The global offshore rig count for jackup and floating rigs for week 20 as of Monday 16th May, 2022

The global offshore rig count for jackup and floating rigs for week 19 as of Monday 9th May, 2022

The global offshore rig count for jackup and floating rigs for week 18 as of Monday 2nd May, 2022

The global jackup rig count in April increased by two overall to 350. One-rig increases were seen in both the Middle East and the North Sea, while other regions remained unchanged. For floating rigs there was no change for the month, with the count starting and ending at 115 contracted units. South America saw a decline of one unit at the end of the month, but otherwise there was little movement anywhere in the world. We still expect the rig count to increase in the coming months given the number of pending contract awards. As a reminder, starting in May we will revise our rig counts to include non-working rigs that have future contracts in place (committed units). These are rigs that are not “on payroll” but are also not available for hire by another operator. We believe this is a more accurate accounting of what is available and what is not. The resulting rig counts will in most cases be higher than the numbers shown for just contracted rigs.

The global offshore rig count for jackup and floating rigs for week 17 as of Monday 25th April, 2022

The global offshore rig count for jackup and floating rigs for week 16 as of Monday 18th April, 2022

The global offshore rig count for jackup and floating rigs for week 15 as of Monday 11th April, 2022

The global offshore rig count for jackup and floating rigs for week 14 as of Monday 4th April, 2022

During March, the global jackup rig count increased by five, from 344 to 349, rebounding from the February decline. Geographically, both the North Sea and Southeast Asia jackup counts increased by three, while the Middle East region went up by one during the month. Those increases were offset by a one-rig fall in North America (Mexico) and the rest of the world. However, with the generally short-term nature of many jackup contracts, these counts can easily change from week to week. For floating rigs, demand in the North Sea increased by one, while the number of contracted rigs increased by two in South America. Meanwhile, West Africa floating rig demand declined by one in Africa. The rest of the world improved by two units during the month.

The global offshore rig count for jackup and floating rigs for week 13 as of Monday 28th March, 2022

The global offshore rig count for jackup and floating rigs for week 12 as of Monday 21st March, 2022

The global offshore rig count for jackup and floating rigs for week 11 as of Monday 14th March, 2022

The global offshore rig count for jackup and floating rigs for week 10 as of Monday 7th March, 2022

During February, the global jackup count declined by six units, with falls taking place in the Middle East and Southeast Asia fleets. However, we believe in the latter case that most of that decline will be made up shortly as there are a number of outstanding rig tenders nearing award. In the Middle East, whether some or all of those rigs released from contracts receive new work remains to be seen. However, in the coming months, a current Saudi Aramco jackup tender that will see the award of up to 20 contracts will add greatly to the jackup count as the year progresses.

For floating rigs, there was a four-rig increase during the month. However, a one-rig pick-up in Africa was offset by a one-rig decline in the North Sea and South America. However, with a number of contracts slated to begin shortly, we expect this count to rebound in the next few months.

The global offshore rig count for jackup and floating rigs for week 9 as of Monday 28th February, 2022

The global offshore rig count for jackup and floating rigs for week 8 as of Monday 21st February, 2022

The global offshore rig count for jackup and floating rigs for week 7 as of Monday 14th February, 2022

The global offshore rig count for jackup and floating rigs for week 6 as of Monday 7th February, 2022

There was no change in the global jackup rig count during the month of January. The fleet started and ended the month at 350 contracted units, with just a few ups and downs during the month. The counts in Southeast Asia and the North Sea were down, although that is expected to change in the coming months. Meanwhile, more units went to work in the Middle East. For floating rigs, it was a different story as there were five fewer rigs contracted at the end of the month. Declines occurred in Southeast Asia and other regions, while the North Sea and North America each saw slight upticks. As new contracts begin in the coming months, both fleets are expected to see a rise in the number of contracted units.

The global offshore rig count for jackup and floating rigs for week 5 as of Monday 31st January, 2022

The global offshore rig count for jackup and floating rigs for week 4 as of Monday 24th January, 2022

The global offshore rig count for jackup and floating rigs for week 3 as of Monday 17th January, 2022

The global offshore rig count for jackup and floating rigs for week 2 as of Monday 10th January, 2022

The global offshore rig count for jackup and floating rigs for week 1 as of Monday 3rd January, 2022

To borrow a medical term, the global jackup rig count during December was unremarkable. The number of units under contract increased by just one rig for the month, with the count in every major region fluctuating by a rig or two every week. The floating rig count, however, increased by three overall for the month, from 110 to 113. While most of the main regions were down by a rig or two, it was the “other areas” that were responsible for the climb, with the number of contracted rigs increasing by seven during the month. This was driven by new contracts starting in the Mediterranean, India, and Far East regions.

The global offshore rig count for jackup and floating rigs for week 52 as of Monday 27th December, 2021

The global offshore rig count for jackup and floating rigs for week 51 as of Monday 20th December, 2021

The global offshore rig count for jackup and floating rigs for week 50 as of Monday 13th December, 2021

The global offshore rig count for jackup and floating rigs for week 49 as of Monday 6th December, 2021

The number of contracted jackups rose by seven during November, starting the month at 347 and ending at 354. As would be expected, most every major region was either stable or saw an increase for the month. Southeast Asia saw a two-rig uptick, while the North Sea and Middle East counts both increased by a single unit. The global floating rig count also went up, albeit by a more modest amount, going from 111 to 114 contracted units. Southeast Asia again was a large part of the jump, seeing a three-rig increase during the month. A few other areas went either up or down by a rig to end up at the three-rig improvement.

The global offshore rig count for jackup and floating rigs for week 48 as of Monday 29th November, 2021

The global offshore rig count for jackup and floating rigs for week 47 as of Monday 22nd November, 2021

The global offshore rig count for jackup and floating rigs for week 46 as of Monday 15th November, 2021

The global offshore rig count for jackup and floating rigs for week 45 as of Monday 8th November, 2021

The global offshore rig count for jackup and floating rigs for week 44 as of Monday 1st November, 2021

The global offshore rig count for jackup and floating rigs for week 43 as of Monday 25th October, 2021

The global offshore rig count for jackup and floating rigs for week 42 as of Monday 18th October, 2021

The global offshore rig count for jackup and floating rigs for week 41 as of Monday 11th October, 2021

The global offshore rig count for jackup and floating rigs for week 40 as of Monday 4th October, 2021

Global jackup utilization in September was down slightly as rigs in a few different regions, including the Middle East, completed contracts and were released. However, we expect that some of these will return to work shortly, and the count should improve. For floating rigs, the number of contracted units increased by two from the beginning to the end of the month. During October, however, there are semis in some regions scheduled to complete contracts with no follow-up work in place, and we believe the number of contracted units could decline slightly.

The global offshore rig count for jackup and floating rigs for week 39 as of Monday 27th September, 2021

The global offshore rig count for jackup and floating rigs for week 38 as of Monday 20th September, 2021

The global offshore rig count for jackup and floating rigs for week 37 as of Monday 13th September, 2021

The global offshore rig count for jackup and floating rigs for week 36 as of Monday 6th September, 2021

The global jackup count in the month of August was unchanged, starting and ending the month at 345. Most regions that had any rig count change during the month varied by only one unit. The floating rig count, however, fell by six units from 115 early in the month to 109 on August 31. but only two of the six rigs were released and stacked with no follow-up contracts in place. The remaining four units were idle but preparing for upcoming work and therefore by definition considered as not under contract. Africa and North America each lost two contracted units during the month, the most of any region. However, these counts are expected to increase in September.

The global offshore rig count for jackup and floating rigs for week 35 as of Monday 30th August, 2021

The global offshore rig count for jackup and floating rigs for week 34 as of Monday 23rd August, 2021

The global offshore rig count for jackup and floating rigs for week 33 as of Monday 16th August, 2021

The global offshore rig count for jackup and floating rigs for week 32 as of Monday 9th August, 2021

The global offshore rig count for jackup and floating rigs for week 31 as of Monday 2nd August, 2021

The number of worldwide contracted jackups ended July where it started, at 344 units. While the number for the month was unchanged, it still represents over a 20-rig increase since January. Southeast Asia, the North Sea and Mexico have been responsible for the largest overall increases during the year. Like the jackup fleet, the floating rig fleet has seen an increase in the average number of contracted units from January to July. The average 115 contracted units during July is an increase of only one rig from June, but nearly 9% higher than the average 105 contract floating rigs in January. South America, the North Sea Africa and Southeast Asia have all seen increases in the average number of contracted units since the start of 2021.

The global offshore rig count for jackup and floating rigs for week 29 as of Monday 26th July, 2021

The global offshore rig count for jackup and floating rigs for week 29 as of Monday 19th July, 2021

The global offshore rig count for jackup and floating rigs for week 28 as of Monday 12th July, 2021

The global offshore rig count for jackup and floating rigs for week 27 as of Monday 5th July, 2021

The global offshore rig count for jackup and floating rigs for week 26 as of Monday 28th June, 2021

The global offshore rig count for jackup and floating rigs for week 25 as of Monday 21st June, 2021

The global offshore rig count for jackup and floating rigs for week 24 as of Monday 14th June, 2021

The global offshore rig count for jackup and floating rigs for week 23 as of Monday 7th June, 2021

The global offshore rig count for jackup and floating rigs for week 22 as of Monday 31st May, 2021

The global offshore rig count for jackup and floating rigs for week 21 as of Monday 24th May, 2021

The global offshore rig count for jackup and floating rigs for week 20 as of Monday 17th May, 2021

The global offshore rig count for jackup and floating rigs for week 19 as of Monday 10th May, 2021

The global offshore rig count for jackup and floating rigs for week 18 as of Monday 4th May, 2021

The global jackup rig count increased by a net of four in April, driven mainly by a three-rig gain in Southeast Asia. Activity in the Middle East, the largest jackup market in the world, declined by one during the month. At the end of the month, the number of contracted rigs had increased by seven since the beginning of the year. For floating rigs, the rig count at the end of April was up by six from January, while Africa, Southeast Asia, Europe and South America all saw a one or two-rig increase during April.

The global offshore rig count for jackup and floating rigs for week 17 as of Monday 26th April, 2021

The global offshore rig count for jackup and floating rigs for week 16 as of Monday 19th April, 2021

The global offshore rig count for jackup and floating rigs for week 15 as of Monday 12th April, 2021

The global offshore rig count for jackup and floating rigs for week 14 as of Monday 5th April, 2021

The global jackup and floating rig counts continued to track upward during March. The number of jackups under contract increased by a net of four units to 329, while floating rig usage, driven mostly by the drillship fleet, rose by three to 111. The North Sea saw three additional units go under contract during the month, while South America accounted for two of the three-rig increase in the floating rig fleet.

The global offshore rig count for jackup and floating rigs for week 13 as of Monday 29th March, 2021

The global offshore rig count for jackup and floating rigs for week 12 as of Monday 22nd March, 2021

The global offshore rig count for jackup and floating rigs for week 11 as of Monday 15th March, 2021

The global offshore rig count for jackup and floating rigs for week 10 as of Monday 8th March, 2021

The global offshore rig count for jackup and floating rigs for week 9 as of Monday 1st March, 2021

Jackup count stable; floaters rising. The worldwide jackup rig count in February was down by just two units versus where it began, but it had regained one of those by early March and the count is expected to register a positive gain during the rest of the month. As for floating rigs, the month of February saw a three-rig increase, which was expected. Demand for floating rigs is gaining momentum, and we believe the upward trend will continue in March.

The global offshore rig count for jackup and floating rigs for week 8 as of Monday 22th February, 2021

The global offshore rig count for jackup and floating rigs for week 7 as of Monday 15th February, 2021

The global offshore rig count for jackup and floating rigs for week 6 as of Monday 8th February, 2021

The global offshore rig count for jackup and floating rigs for week 5 as of Monday 1st February, 2021

Jackup rig demand held steady during the first month of the New Year, as declines in Asia were offset by net gains elsewhere. Floating rig demand fell by four units as more rigs finished contracts, but with 16 non-working, but future committed units preparing to begin contracts, and additional rig tenders on the horizon, demand should recover over the next few months.

The global offshore rig count for jackup and floating rigs for week 4 as of Monday 25th January, 2021

The global offshore rig count for jackup and floating rigs for week 3 as of Monday 18th January, 2021

The global offshore rig count for jackup and floating rigs for week 2 as of Monday 11th January, 2021

The global offshore rig count for jackup and floating rigs for week 1 as of Monday 4th January, 2021