Rig Utilization Up in Europe, Down Worldwide

Offshore rig utilization rose in Europe but declined worldwide and in the U.S. Gulf of Mexico during the week ending June 1, according to ODS-Petrodata Group.

European rig utilization rose by one percentage point to 95.1 percent this week after another rig was placed under contract. Of the regions 102 rigs, 97 are under contract, according to ODS. But worldwide rig utilization fell to 89.6 percent as the number of contracted rigs declined by two. Out of 651 worldwide rigs, 583 are under contract.

U.S. Gulf rig utilization fell one percentage point this week to 88.7 percent, with 189 rigs under contract out of a total of 213.

The ODS total worldwide offshore rig count includes changes in utilization and fleet size in regions beyond just the Gulf of Mexico and Europe.