As oil exploration and production goes, so goes the market for Offshore Service Vessels (OSVs) and Platform Supply Vessels (PSVs). Throughout 2025, the prices of…
As oil exploration and production goes, so goes the market for Offshore Service Vessels (OSVs) and Platform Supply Vessels (PSVs). Throughout 2025, the prices of oil- which drives exploration and production (E & P), have softened, moving down towards $60/barrel amidst economic uncertainty and a wider than anticipated opening of the taps by major oil producers. In the past year, the Baker Hughes overall count of U.S. rigs working has declined. September 2025’s U.S. Rig count of 537 was down from a year earlier figure close to 600.
The overall numbers for rigs deployed mirror the offshore rig counts. Westwood Global Energy Group, using data from RigLogix, also showed declines in rigs working offshore; the approximately 370 jackups working globally in September 2025 was down from a year earlier count around 390 units. For floaters – drillships and semi-submersibles – the count of just over 130 units was down from year ago figures in the mid 140’s. The Louisiana Department of Natural Resources (DNR) looks at activity in the U.S. Gulf of America; in September, 2025, it pegged the number of rigs working on the Outer Continental Shelf in Federal waters at 11, all offshore Louisiana (except for one off the
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