Worldwide offshore rig count in May up by 43 rigs year-over-year

The worldwide offshore rig count in May 2019 dropped by 11 units sequentially but was up 43 rigs year-over-year, according to monthly rig count reports by Baker Hughes, a GE company (BHGE).

BHGE splits its rig counts into international and North America rig counts, which combined make the worldwide rig count.

Baker Hughes said on Friday that the international rig count for May 2019 was 1,126, up 64 from the 1,062 counted in April 2019, and up 159 from the 967 counted in May 2018. It is worth noting that the international rig count now includes active drilling rigs in the Ukraine.

The international offshore rig count for May 2019 was 240, down 11 from the 251 counted in April 2019, and up 42 from the 198 counted in May 2018.

Regionally, Asia Pacific had the highest number of offshore rigs in May totaling 90, down 9 from April 2019 and up 9 from 81 in May 2018.

The Middle East region held the second place in the number of offshore rigs during May totaling 54, down 2 rigs from April 2019 and up 6 from 48 counted in May 2018.

Next up was Europe with 44, then Latin America with 30, and finally Africa with 22 offshore rigs in May 2019.

In North America, the offshore rig count in May 2019 totaled 24, which was the same number from the month before and up 1 from 23 counted in May 2018.

The worldwide rig count for May 2019 was 2,182, up 42 from the 2,140 counted in April 2019, and up 86 from the 2,096 counted in May 2018.

The worldwide offshore rig count for May 2019 was 264, down 11 from 275 in April 2019 and up 43 from 221 in May 2018.

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