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Global rig data: Utilization rates have begun going up
Jul 14: The latest worldwide data on offshore rig count and utilization rate shows an uptick for the first time after March, 2017.
8Data shows that the last one year has been a grim one for the industry: not only have the total number of rigs deployed fallen, but the utilization rate of those under deployment has come down too
8The data is compiled up to May, 2017
The website carries here the following month-wise rig data:
8Total utilization
8Total supply
8Total contracted
8Total working
8The rig types include jackups, semis and drillships
8Will the uptick result in an increase in rig rates? Not likely. Rates are likely to keep going down given the yawning gap between demand and supply, for now.
8Variable costing will be the norm when it comes to quotes by rig owners against RFQs.
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