Global rig fleet declines in tandem with industry activity ///

Last year’s tumble in oil and gas prices forced U.S. rig owners to stack numerous units and downsize operations over the past year. According to the 62nd Annual NOV Rig Census, the 2015 U.S. available fleet has declined significantly, as activity levels plummet. Rig counts were tallied for this year’s census in the early summer, after almost a year of weakened commodity prices. The gap between available and active rigs widened, showing an overall, reduced U.S. market. The Canadian drilling environment also experienced a downturn in activity and availability, as a large number of rigs were removed from service. The available rigs for the global, offshore mobile fleet remain flat, as compared to the North American offshore mobile fleet in 2015. However, there was a large number of offshore units that were built this year, due to them being in the manufacturing queue from 2014. Most international land rig counts suffered—with some significant declines in utilization over the past year.

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