Rig market

OE's analysis of current rig market data is updated monthly using statistics provided by Rigzone.com

Utilization for the worldwide competitive mobile offshore drilling unit (MODU) fleet remains steady at 86%.

Although demand for all rig types has grown by 57 rigs over the last twelve months, utilization continues to hold steady as newbuilds continue to enter the fleet.

Semisubmersible utilization rates continue to fair better than drillship rates, narrowly edging them out by less than 0.5%.

Worldwide jackup utilization rates lag floater rates by approximately 6%.

rig util

Jackup utilization for competitive units in Southeast Asia remains very strong at just over 87%, which is higher than the global average of 83%.

The region continues see strong demand for long-term work as over 30 units have contracts that will keep them busy well into 2014.

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