Page 22: of Marine News Magazine (November 2025)

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Feature

OSVs

Tidewater

OFFSHORE

SERVICE

VESSELS

Despite Market Fluctuations,

A Bull-Run for Decades to Come

By Barry Parker s oil exploration and production goes, so goes around 390 units. For ? oaters – drillships and semi-sub- the market for Offshore Service Vessels (OSVs) mersibles – the count of just over 130 units was down from and Platform Supply Vessels (PSVs). Through- year ago ? gures in the mid 140’s. The Louisiana Depart-

A out 2025, the prices of oil which drives explora- ment of Natural Resources (DNR) looks at activity in the tion and production (E&P), have softened, moving down U.S. Gulf of America; in September, 2025, it pegged the towards $60/barrel amidst economic uncertainty and a wid- number of rigs working on the Outer Continental Shelf in er than anticipated opening of the taps by major oil produc- Federal waters at 11, all offshore Louisiana (except for one ers. In the past year, the Baker Hughes overall count of U.S. off the Texas coast), down from 20 a year earlier. rigs working has declined. September 2025’s U.S. Rig count But regional bright spots have given the OSV sector, tied of 537 was down from a year earlier ? gure close to 600. to rig activity, healthy hues, albeit in selected basins. In the

The overall numbers for rigs deployed mirror the off- September, 2025 report from Fearnley Offshore, its analysts shore rig counts. Westwood Global Energy Group, using emphasized the positive, saying “Since our last report, the data from RigLogix, also showed declines in rigs working OSV market has developed quite ? attish overall with some offshore; the approximately 370 jackups working globally segments and regions even experiencing signi? cant softness. in September 2025 was down from a year earlier count While this has undoubtedly put a dent in the recently held 22 | MN November 2025