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IADC, Regulation, and Legislation

IHS Markit: Pricing power for service sector could push up total well costs, curtailing US onshore recovery in 2018

Stephen Beck, Senior Director and Head of North American Oil & Gas Supply Forecasting for IHS Markit, speaks on a panel session at the 2017 IADC Drilling Onshore Conference on 18 May in Houston. Mr Beck explained that rising service costs will likely slow US onshore production in 2018, despite considerable activity ramp-up this year.

By Linda Hsieh, Managing Editor The US land rig count has doubled from its nadir last year, but land drillers must be cautious about basking in “an irrational exuberance,” Stephen Beck, Senior Director and Head of North American Oil & Gas Supply Forecasting for IHS Markit, said. Speaking at the 2017 IADC Drilling Onshore Conference on 18 May in Houston, Mr Beck noted that the industry’s excitement over increasing activity levels is overshadowing the attention that should be paid to supply impacts. “Rig count recovery has already outpaced the price of oil,” he cautioned, noting that oil prices have not grown much this year to support such an increase in the rig count. Going into the second half of 2017, ...

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Lyndol Dew named Chairman of Well Control Institute

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Lyndol Dew of Diamond Offshore Drilling has been named as the new Chairman of the Well Control Institute (WCI). Mr Dew was confirmed as Chairman at the IADC Executive Committee meeting on 16 March in The Hague, The Netherlands. Mr Dew is Senior Vice President of Special Projects and Strategic Initiatives for Diamond Offshore. He graduated from Florida State University in 1976 and received his Master of Engineering from Tulane University in 1982. Mr Dew served in the US Navy as a Surface Warfare Officer for six years. He has subsequently worked in various domestic and international positions for Diamond Offshore, on rigs and shore-based, for the past 32 years. Mr Dew is a Charter member of the Board of ...

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IADC partners with Texas A&M to launch 1st student chapter

The IADC student chapter at Texas A&M received its certificate of organization on 31 January. Front row from left are Wendolyne Castillo, A&M Chapter Treasurer; Zack Aldelamy, A&M Chapter Secretary; Corey Wittig, A&M Chapter Chairman; and Zachary Matous, A&M Chapter Vice Chairman. Back row from left are Chris Menefee, Independence Contract Drilling and IADC Houston Chapter Chairman; Andy Hendricks, Patterson-UTI Energy and 2017 IADC Chairman; Ron Lee, Noble Drilling and IADC adviser to the A&M chapter; Dr Jerome Schubert, professor and A&M Chapter faculty sponsor; and Jason McFarland, IADC President.

IADC’s first-ever student chapter, at Texas A&M University, received its certificate of organization at a luncheon held by the association’s Houston Chapter on 31 January. “Having an organization like IADC at the student level allows students to understand what kind of career opportunities are out there and where they might fit in the professional oil and gas industry,” Andy Hendricks, 2017 IADC Chairman and President/CEO of Patterson-UTI Energy, said at the luncheon.

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