BHI international rig count for November 2014

Dec 5, 2014

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Baker Hughes Inc. issued the November 2014 international rotary drilling rig count today, showing a total of 1324 rigs operating worldwide in November 2014, outside of the US & Canada.

International activity in November was up 16 rigs from the 1308 rigs drilling in October 2014, and up 13 rigs from the 1311 rigs drilling in November 2013, a 1% year-over-year increase.

Most of the international rigs counted were drilling on land (983 rigs, 74%), while 341 rigs (26%) were drilling offshore.

Overall drilling, land + offshore, was led by the Middle East (403 rigs, up from 390 rigs in October; 3% monthly increase) and Latin America (375 rigs, down from 393 rigs in October; 5% monthly decrease).

International offshore

Offshore drilling in November increased nearly 6% over the prior month, with 341 rigs operating internationally, compared with 323 rigs drilling in October. International offshore drilling increased 8% year-over-year, up 25 rigs from the 316 rigs working in November 2013.

What's notable for November is that every region showed a month-to-month and year-over-year increase in offshore drilling, except for Latin America.

Europe had 52 rigs drilling offshore in November, up from 49 rigs in October (+6%) and up 4 rigs from a year ago (+8%).

In the North Sea, 42 rigs were drilling in November, up 1 rig from October (+2%), and up 3 rigs from a year ago (+8%).

Offshore Middle East had 45 rigs drilling in November, up from 44 rigs in October (+2%), and up 3 rigs from November 2013 (+7% year-over-year).

The most dramatic increases in November were offshore Africa. There were 48 rigs drilling off Africa in November, up 10 rigs from October (+26%), and up 13 rigs since November 2013 (+37% year-over-year).

In Latin America, 83 rigs were drilling offshore in November 2014, down only one rig from October, but down 6 rigs from the 89 that were drilling in November 2013 (-7% year-over-year).

There were 113 rigs working offshore Asia Pacific in November, up from 108 rigs in October (+5%) and up 11% year-over-year, from the 102 rigs drilling in November 2013.

Baker Hughes initiated the monthly international rig count in 1975.