BHI international rig count for July 2014

Aug 11, 2014

Baker Hughes issued the July 2014 international rotary drilling rig count last week, showing a total of 1382 rigs operating outside the US & Canada.

International activity in July was up 38 rigs from the 1344 rigs drilling in June 2014, and up 77 rigs from the 1305 drilling in July 2013 (5.9% year-over-year increase).

Worldwide offshore

Offshore operations were up slightly, with 336 rigs operating offshore internationally in July, up 16 rigs (+5%) from the 320 rigs drilling in June, and also up 16 rigs from a year ago.

What's notable for July is that four of six regions in the world showed month-to-month increases in offshore drilling activity, with double-digit increases off Europe, North Sea, and Africa.

Latin America and Asia Pacific were down 2 rigs each.

Europe had 55 rigs drilling offshore in July, up 7 rigs from June (+15%), and up 6 rigs from a year ago (+12% year-over-year).

In the North Sea, 39 rigs were drilling in July, up 4 rigs from June (+11%), the same as a year ago.

Offshore Middle East had 54 rigs drilling in July, up from 51 in June (+6%), and up 7 rigs from July 2013 (+15% year-over-year).

There were 46 rigs drilling offshore Africa in July, up 10 rigs from June (+28%), and up 8 rigs since July 2013 (+21% year-over-year).

In Latin America, 68 rigs were drilling offshore in July, down 2 rigs from June (-3%), and down 19 rigs from July 2013 (-22% year-over-year).

There were 113 rigs working offshore Asia-Pacific in July, down 2 rigs from June (-1.7%), but up 14 rigs from the 99 rigs drilling in July 2013 (+14% year-over-year increase).

Down, year-over-year

Latin America was down only two rig, month-to-month, but the region showed a significant drop in offshore drilling compared with July 2013. There were 19 fewer rigs drilling off Latin America in July 2014 than a year ago (-22% year-over-year decrease).

Baker Hughes initiated the monthly international rig count in 1975.

BHI international rig count for May 2014, 6 June 2014