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IADC: Global Leadership, Global Challenges

From the Chairman: Industry must focus on factors within our control to come out of difficult times stronger, better

Ed Jacob, 2015 IADC Chairman

We are approaching the one-year anniversary of the most recent market correction in our industry, slashing the active rig count by approximately 1,000 rigs over the same time last year. During the past year, I have witnessed numerous daily discussions regarding the price of oil and the price of natural gas, etc. There is no doubt that the commodity price is a key factor in our customers’ choices to invest through the drill bit, and the drilling activity that follows.

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IADC Supply Chain Committee develops 2015-2016 strategy

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On 8 May, supply chain representatives from 11 drilling contractors met to develop a strategy for the IADC Supply Chain Committee using the Hoshin Kanri methodology of strategy deployment. The committee selected supplier performance and trade compliance as the two main areas of focus. On 9 June, the IADC Leadership Team approved the suggested strategic initiatives:

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