U.S. Offshore rig count at its lowest since May 2011

Baker Hughes Incorporated has posted Weekly Rig Count earlier than usual, on Thursday, April 2, 2015, due to the Good Friday holiday. The number of active offshore rigs in the U.S. has fallen further.

To be counted as active a rig must be on location and be drilling. A rig is considered active from the moment the well is “spudded” until it reaches target depth or “TD”. Rigs that are in transit from one location to another, rigging up or being used in non-drilling activities such as workovers, completions or production testing, are not counted as active.

U.S. Rig Count in total is down 20 rigs from last week to 1028, with oil rigs down 11 to 802, gas rigs down 11 to 222, and miscellaneous rigs up 2 to 4.

Looking at the year on year levels, U.S. Rig Count is down 790 rigs from last year at 1818, with oil rigs down 696, gas rigs down 94, and miscellaneous rigs unchanged at 4.

The U.S. Offshore rig count is 31, down 3 rigs from last week, and down 16 rigs year over year. According to data found on the Baker Hughes website, the U.S. Offshore rig count has now fallen its lowest since May 2011.

Worth noting, British oil company BP earlier this week terminated contracts for two rigs operating in the U.S. Gulf of Mexico, the West Sirius semi-submersible, and the ENSCO DS-4 drillship. The contracts terminations will become effective in July 2015.

Canada -20 to 100 rigs

Canadian Rig Count is down 20 rigs from last week to 100, with oil rigs up 2 to 20, and gas rigs down 22 to 80.

Canadian Rig Count is down 135 rigs from last year at 235, with oil rigs down 90, and gas rigs down 45.

Offshore Energy Today Staff; Data: Baker Hughes