The rig fleet continues to expand as activity remains strong

The drilling industry has experienced sustained growth during the past few years due to strong market conditions and a continued fleet expansion program. A favorable environment has allowed additional companies to enter the business and new rigs to be built. According to the 55th annual ReedHycalog Rig Census, fleet growth has slowed somewhat over the last year, but newly manufactured units are still coming online, and older rigs continue to be reactivated to meet increased demand. To assemble a complete picture of the global rig market, ReedHycalog works closely with RigData and ODS-Petrodata to summarize the US and global offshore mobile rig fleets. ReedHycalog personnel in Calgary gather the Canadian numbers. Estimates for the overall international land rig fleet are compiled by ReedHycalog regional managers and submitted for this report. The US rig fleet had a net gain of 259 rigs this year.