Worldwide Rig Count for December Dips Amid Oil Price Drop

Baker Hughes has in latest international rig count for December 2014 shown a decline to 1,313 from the 1,324 counted in November 2014, and down 22 from the 1,335 counted in December 2013.

The international offshore rig count for December 2014 was 338, down 3 from the 341 counted in November 2014, and up 32 from the 306 counted in December 2013.

In Africa onshore rigs were down from 94 to 91 between November and December while those offshore were down by one from 48 to 47.

As compared to the same period last year the rig count onshore is down by 8 percent from 102 in December last year while offshore the number is up 30 percent from the previous 36 to 47 rigs.

The worldwide rig count for December 2014 was 3,570, down 100 from the 3,670 counted in November 2014, and up 92 from the 3,478 counted in December 2013.

Baker Hughes initiated the monthly international rig count in 1975.