International Offshore Rig Count Takes Downturn 

Emmanuel Addeh in Abuja 

With 11 units less than the month before, Baker Hughes’ international rig count report showed a sharp drop in the number of offshore rigs in September 2023 as total number of international rigs also saw a fall in activity, slumping to 940 from 952 units in August 2023.

This followed a boost of four units in August 2023, Baker Hughes disclosed ,although offshore rigs were up by five units on a year-over-year basis last month.

Moreover, the company’s report pointed out that the total number of active international drilling rigs – including onshore and offshore ones – slipped down by 12 units last month, reaching 940, which is higher by 61 rigs than last year’s count of 879 with land rigs going up by 56 units and offshore rigs rising by five units.

In comparison to the figures from the month before, land rigs slid down by one unit to 716 in September 2023 while offshore rigs fell by 11 units to 224, according to Rig zone. Nigeria’s rig count was 18 in August, up from 14 the previous month, a growth of four units.

Furthermore, the average US rig count for September 2023 was 632 units, down 15 rigs from the previous month’s count of 647 and down 131 units on a year-over-year basis while the average US rig count for August 2023 was down 117 units year-over-year.

The average Canada rig count for September 2023 was 188 units, down 1 rig from the prior month’s count of 189 rigs and down 23 units year-over-year.

Meanwhile, the worldwide rig count for September 2023 was 1,760 units, down 28 rigs from 1,788 units counted in August 2023, and down 93 units from 1,853 rigs counted in September 2022.