May 9, 2008

HOUSTON: No net change in the worldwide offshore contracted rig count was recorded this week, according to ODS-Petrodata's weekly mobile offshore rig count.

This week, 622 of the world's 688 mobile offshore drilling units are under contract.  Worldwide offshore rig fleet utilization is 90.4 percent.

The U.S. Gulf of Mexico contracted offshore rig count experienced a net decrease of two this week due to the end of two semi contracts.  With 104 rigs out of 124 available under contract, fleet utilization stands at 83.9 percent.

The South American offshore drilling fleet size and number of rigs under contract both grew by one this week.  With 70 rigs out of 94 available under contract, fleet utilization is 74.5 percent.

All 99 mobile offshore drilling units in the European/Mediterranean region remain under contract; European offshore rig fleet utilization is 100.0 percent.

In West Africa, the offshore rig fleet size and the number of contracted rigs are unchanged. With 58 rigs out of 59 available under contract, utilization remains at 98.3 percent.

In the Asia/Australia region, the number of rigs under contract and total offshore fleet size was unchanged this week.  With 102 out of 105 available offshore rigs under contract, fleet utilization stands at 97.1 percent.