***PLEASE MAKE NOTE THIS EVENT WILL BE HELD AT THE GREENSPOINT CLUB,
Those attending the meeting can park on the roof if they will go to the gate & press the intercom button. Often visitor parking is sparse on the lower level.***
“Drilling Rigs – Our aging rig fleet and How we address replacement. What they have in common with Washington’s Axe."
This presentation will cover the dynamics of the long standing discussion: “When do we retire a drilling rig?” It will focus on the offshore fleet, due to the financial impact that decisions to retire or extend a rig life have. A force field methodology is used to address the relational balance between existing units, existing well designs, fleet compatibility and management mindset. Offsetting these variables are new tools, updated practices and increased knowledge. Contractors and operators ultimately answer to shareholders and share holders demand returns on their investments. The decisions to retire or extend a rig life, or build a new unit are based on the value created for the shareholders.
The presentation will also include a look to the future and why we must move on, especially for the GOM. The focus areas will be Hardware, Software (people) and Processes.