Baker Hughes issued the May 2014 international rotary drilling rig count today, showing a total of 1024 rigs operating outside the US & Canada.
International activity in May was up 4 rigs from the 1020 rigs drilling in April and up 68 rigs from the 956 drilling in May 2013 (7% year-over-year increase).
International offshore
Offshore operations were steady, but flat, with 326 rigs operating internationally in May, down 3 from the 329 rigs drilling in April, and down 1 rig from a year ago.
Regionally, the high points are significant increases in drilling activity offshore Europe (+22%) and in the North Sea (+21%) from a year ago, and a large dropoff in drilling off Latin America (-24%) from a year ago.
There were 56 rigs drilling offshore Europe in May, down 2 rigs from April, but up 10 rigs from the 46 drilling in May 2013 (+22% year-over-year increase)!
There were 46 rigs working in the North Sea in May, down 4 rigs from April, but up 8 rigs from the 38 rigs drilling in May 2013 (+21% year-over-year increase)!
In the Middle East, there were 47 rigs drilling offshore in May, up 1 rig from April, and up 3 rigs from May 2013 (+6.8% year-over-year increase).
In Africa, there were 40 rigs drilling offshore in May, same as in April, but up 3 rigs from May 2013 (+8.1% year-over-year increase).
In Latin America, there were 71 rigs drilling offshore in May, up 5 rigs from April, but down 23 rigs from the 94 rigs drilling in May 2013 (-24% year-over-year decrease). Of the 71 rigs working last month, 26 were off Brazil, 1 was off Ecuador, 36 off Mexico, 4 off Peru, 1 off Trinidad, and 3 off Venezuela. The drop-off in drilling from a year ago is attributable to Brazil (-16 rigs), Mexico (-5 rigs), and Venezuela (-4 rigs).
Finally, in Asia Pacific, there were 112 rigs drilling offshore in May, down 7 rigs from April, but up 6 rigs from May 2013 (+5.6% year-over-year increase).
Baker Hughes initiated the monthly international rig count in 1975.
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