BHI international rig count for October 2014

Nov 8, 2014

Baker Hughes Inc. issued the October 2014 international rotary drilling rig count today, showing a total of 1308 rigs operating worldwide in October 2014, outside of the US & Canada.

International activity in October was down 15 rigs from the 1323 rigs drilling in September 2014, and down 7 rigs from the 1315 rigs drilling in October 2013, a <1% year-over-year decrease.

Most of the international rigs counted were drilling on land (985 rigs, 75%), while 323 rigs (25%) were drilling offshore.

Overall drilling, land + offshore, was led by the Middle East (390 rigs, down from 396 rigs in September; 1.5% monthly decrease) and Latin America (393 rigs, down from 402 rigs in September; 2.2% monthly decrease).

International offshore

Offshore drilling was down slightly from the month prior, with 323 rigs drilling internationally in October 2014, down from 333 drilling in September (-3%). But drilling activity is up 2% year-over-year, from 316 rigs drilling offshore in October 2013.

The month-to-month offshore rig count increased in October in the North Sea and Latin America, remained steady in the Middle East, and decreased slightly in Europe, Africa, and Asia Pacific.

Europe had 49 rigs drilling offshore in October, down from 50 rigs in September (-2%), but up 3 rigs from the 46 drilling in October 2013 (+6.5% year-over-year).

In the North Sea, 41 rigs were drilling in October, up from 36 rigs in September (+14%), and up from 37 rigs a year earlier, in October 2013 (+11%) y-o-y).

Offshore Middle East had 44 rigs working, same as in September, but up from 41 rigs a year earlier (+7% y-o-y).

There were 38 rigs drilling off Africa in October, down from 39 rigs in September (-2.5%), but up 8.6% year-over-year from the 35 rigs drilling in October 2013.

In Latin America, 84 rigs were drilling offshore in October, up 3 rigs from September (+3.7%), but down 4 rigs from the 88 drilling in October 2013 (-4.5% y-o-y).

There were 108 rigs drilling off Asia Pacific in October, down 9% from 119 rigs drilling in August and September, and the lowest count since November 2013.

Baker Hughes initiated the monthly international rig count in 1975.

BHI international rig count for August 2014, 9 September 2014