Weekly Global Offshore Rig Counts

The global offshore rig count for jackup and floating rigs for week 49 as of Monday 4th December, 2023

The global jackup count in November rose by three, ending the month at 407. Among the major areas tracked, the North Sea count declined by one rig, while the Middle East count increased by two units. We expect little change for the remainder of 2023 and into early 2024 as outstanding tenders for new work should counter any rigs that might be released from contracts. For floating rigs, the rig count in November fell by three units, finishing at 148 units under contract or committed for work. The North Sea and West Africa recorded one and two-rig declines, respectively, while the count in South America rose by one rig. Looking ahead, additional rigs could be released in the North Sea and US Gulf of Mexico, but like with jackups, there are a number of contract awards pending, some of which will be made in the next 60 days and could involve currently idle units.

The global offshore rig count for jackup and floating rigs for week 48 as of Monday 27th November, 2023

The global offshore rig count for jackup and floating rigs for week 47 as of Monday 20th November, 2023

The global offshore rig count for jackup and floating rigs for week 46 as of Monday 13th November, 2023

The global offshore rig count for jackup and floating rigs for week 45 as of Monday 6th November, 2023

The global offshore rig count for jackup and floating rigs for week 44 as of Monday 30th October, 2023

The global offshore rig count for jackup and floating rigs for week 43 as of Monday 23rd October, 2023

The global offshore rig count for jackup and floating rigs for week 42 as of Monday 16th October, 2023

The global offshore rig count for jackup and floating rigs for week 41 as of Monday 9th October, 2023

The global offshore rig count for jackup and floating rigs for week 40 as of Monday 2nd October, 2023

The global jackup count in September increased by one unit during the month from 400 to 401. A five-rig increase in the Middle East (164 to 169) was partially offset by a one-rig decline in Southeast Asia. With options mostly being exercised for contracts in most of the major jackup markets, and with outstanding tenders yet to see rig awards, we expect the jackup count to remain at the level seen during the past several months. For floating rigs, the rig count in September was also up by one rig from 145 to 146. One-rig changes, both up and down, were seen in the North Sea and South America, but overall there was little change. This market, however, remains below the high count of 151, which was reached in both May and July, so there is room for improvement in the coming months. The pace of rig contract awards in recent months has slowed down, but as oil companies make their ways through budget planning we expect the number of awards to pick up in the next few months.

The global offshore rig count for jackup and floating rigs for week 39 as of Monday 25th September, 2023

The global offshore rig count for jackup and floating rigs for week 38 as of Monday 18th September, 2023

The global offshore rig count for jackup and floating rigs for week 37 as of Monday 11th September, 2023

The global offshore rig count for jackup and floating rigs for week 36 as of Monday 4th September, 2023

During a volatile month, the global jackup count finished down four units at 396, after beginning the month at 400. Declines were seen in the Middle East and West Africa, while the North Sea and Southeast Asia each saw one-rig increases. Looking ahead, rigs will continue to begin new work while others come off contracts, but we believe the global count will remain in the 5-6 rig range seen over the past several months of the year.

For floating rigs, the global count moved down by seven during August, from 149 to 142 at the end of the month. Several regions experienced declines, including South America, Africa and the US Gulf of Mexico. However, we believe this is a temporary situation as the number of outstanding rig tenders and upcoming planned work will likely reabsorb most or all of these units over the next few months.

The global offshore rig count for jackup and floating rigs for week 35 as of Monday 28th August, 2023

The global offshore rig count for jackup and floating rigs for week 34 as of Monday 21st August, 2023

The global offshore rig count for jackup and floating rigs for week 33 as of Monday 14th August, 2023

The global offshore rig count for jackup and floating rigs for week 32 as of Monday 7th August, 2023

The global offshore rig count for jackup and floating rigs for week 31 as of Monday 31st July, 2023

The global offshore rig count for jackup and floating rigs for week 30 as of Monday 24th July, 2023

The global offshore rig count for jackup and floating rigs for week 29 as of Monday 17th July, 2023

The global offshore rig count for jackup and floating rigs for week 28 as of Monday 10th July, 2023

The global offshore rig count for jackup and floating rigs for week 27 as of Monday 3rd July, 2023

The global offshore rig count for jackup and floating rigs for week 26 as of Monday 26th June, 2023

The global offshore rig count for jackup and floating rigs for week 25 as of Monday 19th June, 2023

The global offshore rig count for jackup and floating rigs for week 24 as of Monday 12th June, 2023

The global offshore rig count for jackup and floating rigs for week 23 as of Monday 5th June, 2023

The global rig count finished May one rig ahead of where it started, ending the month at 401. One-rig gains and losses were seen in the North Sea and Middle East, while the count in Southeast Asia was unchanged at 38. With the summer months starting, we expect rig contracting to pick up in most areas, although a supply shortage is constraining any large-scale gains. For floating rigs, the count was overall unchanged in May, although the past few weeks did see a three-rig drop from the 151-rig high that took place mid-month. Demand in the North Sea and South America was unchanged, while West Africa, the US Gulf of Mexico and Southeast Asia all saw rigs released from contracts during the month.

The global offshore rig count for jackup and floating rigs for week 22 as of Monday 29th May, 2023

The global offshore rig count for jackup and floating rigs for week 21 as of Monday 22nd May, 2023

The global offshore rig count for jackup and floating rigs for week 20 as of Monday 15th May, 2023

The global offshore rig count for jackup and floating rigs for week 19 as of Monday 8th May, 2023

The global offshore rig count for jackup and floating rigs for week 18 as of Monday 1st May, 2023

The global offshore rig count for jackup and floating rigs for week 17 as of Monday 24th April, 2023

The global offshore rig count for jackup and floating rigs for week 16 as of Monday 17th April, 2023

The global offshore rig count for jackup and floating rigs for week 15 as of Monday 10th April, 2023

The global offshore rig count for jackup and floating rigs for week 14 as of Monday 3rd April, 2023

The global jackup rig count rose by a net of 8 units in March, rising from 390 to 398 at the end of the month. Southeast Asia demand declined by 2, while demand in the Middle East increased by a net of 2 units. NO fewer than 4 jackups mobilized from one region to another, with movement in and out of India, the Black Sea, the Far East, Australia, Southeast Asia and the Middle East. In the coming months, additional units will mobilize to the Middle East as reactivations and other shipyard work is completed and those rigs move to begin contracts for Saudi Aramco and other operators in the region.

Floating rig demand in March rose by 2 units to 148 at the end of the month. The gain came from the North Sea, where demand there rose by 2. In the coming months, drillship utilization will remain above 95% as strong demand continues for those rigs. We also expect demand for semisubmersibles to rise gradually during the rest of the year.

The global offshore rig count for jackup and floating rigs for week 13 as of Monday 27th March, 2023

The global offshore rig count for jackup and floating rigs for week 12 as of Monday 20th March, 2023

The global offshore rig count for jackup and floating rigs for week 11 as of Monday 13th March, 2023

The global offshore rig count for jackup and floating rigs for week 10 as of Monday 6th March, 2023

The global jackup count during February rose by a net of 1 rig to 391 at the end of the month. The counts in every major region, including the North Sea, Middle East and Southeast Asia, were unchanged. However, since the start of the year, the jackup count is down by 5 units, although we expect it to recover to and even exceed current levels in upcoming months.

For floating rigs in February, the global rig count dropped by a net of 1 rig to 146. The rig count in Southeast Asia fell by 2 during the month, but that was offset by a 1-rig pickup in Africa. For the first two months of 2023, the floating rig count worldwide is up after reaching a low of 143 during the final week of January.

The global offshore rig count for jackup and floating rigs for week 9 as of Monday 27th February, 2023

The global offshore rig count for jackup and floating rigs for week 8 as of Monday 20th February, 2023

The global offshore rig count for jackup and floating rigs for week 7 as of Monday 13th February, 2023

The global offshore rig count for jackup and floating rigs for week 6 as of Monday 6th February, 2023

The global offshore rig count for jackup and floating rigs for week 5 as of Monday 30th January, 2023

The global offshore rig count for jackup and floating rigs for week 4 as of Monday 23rd January, 2023

The global offshore rig count for jackup and floating rigs for week 3 as of Monday 16th January, 2023

The global offshore rig count for jackup and floating rigs for week 2 as of Monday 9th January, 2023

The global offshore rig count for jackup and floating rigs for week 1 as of Monday 2nd January, 2023