Weekly Global Offshore Rig Counts 2022

The global offshore rig count for jackup and floating rigs for week 51 as of Monday 19th December, 2022

The global offshore rig count for jackup and floating rigs for week 50 as of Monday 12th December, 2022

The global offshore rig count for jackup and floating rigs for week 49 as of Monday 5th December, 2022

The global jackup count for November ended the month up one rig at 395. While the count in the North Sea declined by two, the number of contracted/committed jackups increased by two during the month in both Southeast Asia and the Middle East. We expect the North Sea count to likely continue to be suppressed, but we believe the Middle East count in particular, will increase again in December. For floating rigs, despite one-rig declines in the North Sea, South America and Africa, the count globally rose by two from the start of the month, ending at 142. Increases in the number of contracted/committed rigs took place in Southeast Asia and eastern Canada, among others.

The global offshore rig count for jackup and floating rigs for week 48 as of Monday 28th November, 2022

The global offshore rig count for jackup and floating rigs for week 47 as of Monday 21st November, 2022

The global offshore rig count for jackup and floating rigs for week 46 as of Monday 14th November, 2022

The global offshore rig count for jackup and floating rigs for week 45 as of Monday 7th November, 2022

The global offshore rig count for jackup and floating rigs for week 44 as of Monday 31st October, 2022

The global offshore rig count for jackup and floating rigs for week 43 as of Monday 24th October, 2022

The global offshore rig count for jackup and floating rigs for week 42 as of Monday 17th October, 2022

The global offshore rig count for jackup and floating rigs for week 41 as of Monday 10th October, 2022

The global jackup count for September started and ended at 382 units, down by one from the 383 contracted/committed rigs at the end of August. Despite a six-rig increase in the Middle East, both the North Sea and Southeast Asia suffered declines during the month, offsetting the gain. However, with the rigs that went idle expected to only be idle briefly, the overall count is likely to increase in October.

For floating rigs, the contracted/committed total at the end of September was up by one from the early part of the month. The number of contracted/committed units off Africa improved by three during the month, but single rig declines in the North Sea and Southeast Asia brought the overall increase to just one. We expect the floating rig count to continue to improve as a whole going forward, although a few regions could undergo seasonal or other decreases during the winter months.

The global offshore rig count for jackup and floating rigs for week 39 as of Monday 26th September, 2022

The global offshore rig count for jackup and floating rigs for week 38 as of Monday 19th September, 2022

The global offshore rig count for jackup and floating rigs for week 37 as of Monday 12th September, 2022

The global offshore rig count for jackup and floating rigs for week 36 as of Monday 5th September, 2022

The global jackup count for August declined by one to 383 by the end of the month. However, despite the overall decline, rig counts in Southeast Asia and the Middle East increased by two rigs. ADNOC Offshore and Saudi Aramco continue to account for most of the activity in the Middle East. The North Sea also saw an increase for the month, rising by one to 32 at the end of the month. Floating rig demand worldwide increased by two during the month, from 142 to 144 contracted/committed units. The North Sea and West Africa both saw an increase in one unit for the month. After a lull in contract signings for the past month or two, awards seem to have restarted and with several active tenders still outstanding there should be more to come in September.

The global offshore rig count for jackup and floating rigs for week 35 as of Monday 29th August, 2022

The global offshore rig count for jackup and floating rigs for week 34 as of Monday 22nd August, 2022

The global offshore rig count for jackup and floating rigs for week 33 as of Monday 15th August, 2022

The global offshore rig count for jackup and floating rigs for week 32 as of Monday 8th August, 2022

The global offshore rig count for jackup and floating rigs for week 31 as of Monday 1st August, 2022

The number of global contracted/committed jackups rose by one during July to 384 units. Declines in both the North Sea and Southeast Asia were offset by gains in the Middle East and elsewhere. Since the end of April, the number or contracted/committed jackups has risen by 11. For floating rigs, the rig count was unchanged for the month, at 142. The number of units fell by one in the North Sea, but that was covered up by a one-rig increase in Africa. Fleet demand is up by four units from 138 at the end of April.

The global offshore rig count for jackup and floating rigs for week 30 as of Monday 25th July, 2022

The global offshore rig count for jackup and floating rigs for week 29 as of Monday 18th July, 2022

The global offshore rig count for jackup and floating rigs for week 28 as of Monday 11th July, 2022

The global offshore rig count for jackup and floating rigs for week 27 as of Monday 4th July, 2022

There was no change in the number of contracted/committed floating rigs during the month of June, with demand starting and ending the month at 139. Jackup demand, however, jumped by four units during the same period, up from 378 contracted/committed units in the first week of the month to 382 in the last week. While demand in the North Sea declined by one unit during June, the number of contracted/committed units in Southeast Asia rose by two. In addition, a previously retired unit in the US Gulf of Mexico was brought out of retirement for a new contract, increasing demand in that region.

The global offshore rig count for jackup and floating rigs for week 26 as of Monday 27th June, 2022

The global offshore rig count for jackup and floating rigs for week 25 as of Monday 20th June, 2022

The global offshore rig count for jackup and floating rigs for week 24 as of Monday 13th June, 2022

The global offshore rig count for jackup and floating rigs for week 23 as of Monday 6th June, 2022

The global offshore rig count for jackup and floating rigs for week 22 as of Monday 30th May, 2022

The global offshore rig count for jackup and floating rigs for week 21 as of Monday 23rd May, 2022

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