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More oil rigs in Gulf than before BP oil spill

February 4th, 2011 Comments off

According to The Times Picayune in New Orleans …

While a backlog of drilling permits in Washington continues to feed oil industry angst, new data shows that more rigs are in the Gulf of Mexico than before the BP oil spill, indicating that operators might have more confidence in the future than they are letting on.

While only 34 of the 125 rigs in the Gulf are actually working — half the total that were active before the Macondo well blowout — the vast majority of the idle rigs, particularly those slated for big-ticket jobs in deepwater, will remain under contract for the rest of 2011.

The latest tracking information from ODS-Petrodata, a Houston-based compiler of oil and gas data, shows there are 10 more rigs in the Gulf now than there were last April.

While only 34 of the 125 rigs in the Gulf are actually working — half the total that were active before the Macondo well blowout — the vast majority of the idle rigs, particularly those slated for big-ticket jobs in deepwater, will remain under contract for the rest of 2011.

In the shallow-water Gulf oil fields, where the government has never officially banned drilling but has issued few work permits in the past several months, activity has rebounded to near its pre-blowout levels.

There are 26 shallow-water rigs operating now, just 11 fewer than before the BP blowout, according to ODS-Petrodata. In December, the government issued seven shallow-water drilling permits, matching the monthly average from the year leading up to the BP disaster.

There are also signs of renewal in the more lucrative deepwater fields.