For the second month in a row, the offshore rig market trended in a positive direction.
Worldwide offshore rig count and utilization rate
For the second month in a row, the offshore rig market trended in a positive direction across these segments. The total number of jackups, semis, and drillships under contract has climbed by two rigs up to 426. While not a huge change, the total supply of mobile offshore drilling units fell by one, dropping to 791. As a result, rig utilization experienced a soft bump of less than a point, pushing the rate from 53.6% in March to 53.9%. However, the number of rigs working saw its biggest single-month jump in several years, improving from roughly 373 in March to 384 in April.
