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2016

Editorial: Through tough times, IADC advocated admirably on behalf of members in 2016

At the beginning of the year, I talked about the importance of continuing to invest in our workforce, with a focus on safety and training, along with a commitment for this association to deliver value to you, our members. This year was a difficult one for the industry. Market forces were decidedly against us, and the downturn did not discriminate. Companies have been forced to restructure, and the rig count is dismal. It has been hard to find good news amidst all of the negative press. But as we round out 2016 and I look back over a difficult year, it is with pride that I reflect on IADC’s accomplishments. The association has had a strong response to the downturn, and I am particularly proud to have served as IADC Chairman this year.

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Steadfast commitment to member service as IADC heads into 2017

When I stepped into the role of President of IADC in March, I announced that my focus, and the focus of the IADC staff, would be on member service. After more than 20 years with IADC, I have a profound appreciation for the work our members do to make our industry better. And I strongly believe that an association that represents and advocates for drilling contractor interests plays a vital role in this industry.

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News Cuttings

On 23 September, the Oil and Natural Gas Subsector Coordinating Council (ONG-SCC) hosted a 2-hr educational session for the US Department of Energy and other agency staff who are involved or interested in how the oil and natural gas industry works and how it prepares for and responds to weather-related events.

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Wirelines

Industry details concerns with NOAA expansion of marine sanctuary boundaries On 19 August, IADC and other industry groups submitted comments to the US National Oceanic and Atmospheric Administration (NOAA). The comments addressed the draft environmental impact statement (DEIS) for the proposed actions of boundary expansion and application of existing regulations and management plan actions to new geographic areas of the Flower Garden Banks National Marine Sanctuary (FGBNMS). The comments were submitted along with API, the National Ocean Industries Association (NOIA), the Independent Petroleum Association of America (IPAA), the International Association of Geophysical Contractors (IAGC) and the Offshore Operators Committee (OOC). The FGBNMS was designated in 1992 and, in the 24 years since, industry has successfully co-existed within and around it ...

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Perspectives: Teresa Scott, Nabors: Training, robust safety culture are necessary to ensure the safe reactivation of rigs whenever the upturn comes

Over her 20 years in human resources in the oil and gas industry, Teresa Scott has worn many hats. “HR is not just one job,” said Ms Scott, currently Human Resources Manager at Nabors Corporate Services. “We’re employee relations and talent acquisition, and we’re strategic partners in the business. It’s a little bit of everything, and the job is never dull.”

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US sanction regimes continue to evolve for Russia, Iran, Cuba

Business prospects must be balanced with careful risk management, understanding of local challenges and well-drafted contracts By Jennifer Bickley, Chamberlain, Hrdlicka, White, Williams & Aughtry Since early 2014, the US has seen a significant number of changes to the sanctions imposed by the Department of Treasury’s Office of Foreign Asset Control (OFAC). These changes have, or may have in the future, a meaningful impact on the oil and gas industry. Generally, OFAC’s purpose in imposing sanctions is to support the US’ foreign policy and national security goals through sanctions that are imposed on (i) individuals/entities through a published list of those persons with whom US persons/entities cannot do business (SDN List); (ii) targeted trade areas (sectoral sanctions) and targeted individuals ...

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Energy insurance industry nears tipping point heading into 2017

In the past decade, the upstream energy insurance market has been a safe port of call for investment capital looking for a home. Upstream energy companies have been the beneficiaries of the flood of capital that entered the insurance market. “Laissez les bon temps roulez” may have been the silent battle cry for the past several years. However, energy professionals long enough in the tooth know – perhaps better than anyone – that good times never last forever.

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3 classes for PDC bits of the future: fit for purpose, special application, part of automated drilling system

Historically, periods of significant downturn and economic strain on the industry have yielded innovative improvements in polycrystalline diamond compact (PDC) cutter or bit technology. These events and the resulting technological developments were reported in the July/August 2015 issue of Drilling Contractor and in an IADC eBook.

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