Worldwide offshore rig count in August down 74 units year over year

The worldwide offshore rig count in August 2020 dropped by 74 rigs year-over-year but is up 3 rigs sequentially, according to a report by Baker Hughes.

Baker Hughes splits its report into an international and North America one, which combine into a worldwide rig count.

The international rig count for August 2020 was 747 up 4 from the 743 counted in July 2020, and down 391 from the 1,138 counted in August 2019.

The international offshore rig count for August 2020 was 184, up 1 from the 183 counted in July 2020, and down 60 from the 244 counted in August 2019.

Looking at separate regions, the Asia Pacific region had the highest number of offshore rigs during August 2020, totalling 88 units – two less than in July 2020. This is down 4 rigs from 92 in August 2019.

In the Middle East region, the August rig count is up by one when compared to July 2020 and down 14 from August 2019.

Latin America is in third place with 30 active units in August. Europe is fourth with 25, while Africa is in fifth place with just 2 active units.

The average U.S. rig count for August 2020 was 250, down 5 from the 255 counted in July 2020, and down 679 from the 926 counted in August 2019.

The average Canadian rig count for August 2020 was 53, up 21 from the 32 counted in July 2020, and down 89 from the 142 counted in August 2019.

The worldwide rig count for August 2020 was 1,050, up 20 from the 1,030 counted in July 2020, and down 1,156 from the 2,206 counted in August 2019.

The worldwide offshore rig count for August 2020 was 199, up 3 from 196 in July 2020 and down 74 from the 273 in August 2019.

Image by SP Mac