International offshore rig count drops by 99 units YoY

Oilfield services provider Baker Hughes announced on Monday that the international offshore rig count in February 2016 was down both sequentially, and year over year. 

The international rig count includes rigs from  Latin America, Europe, Africa, Middle East and Asia Pacific.

According to Baker Hughes’ monthly report, the international offshore rig count for February 2016 was 225, down 17 from the 242 counted in January 2016, and down 99 from the 324 counted in February 2015.

The international rig count for February 2016 was 1,018, down 27 from the 1,045 counted in January 2016, and down 257 from the 1,275 counted in February 2015.

United States & Canada

The average U.S. rig count for February 2016 was 532, down 122 from the 654 counted in January 2016, and down 816 from the 1,348 counted in February 2015.

The average Canadian rig count for February 2016 was 211, up 19 from the 192 counted in January 2016, and down 152 from the 363 counted in February 2015.

Worldwide

The worldwide offshore rig count for February 2016 was 254, down 17 from 271 counted in January 2016, and down 125 from 379 counted in February 2015.

The worldwide rig count for February 2016 was 1,761, down 130 from the 1,891 counted in January 2016, and down 1,225 from the 2,986 counted in February 2015.