The price of failure
Many people have debated and written extensively about the reasons for project failure over the years. We ourselves have written and commented previously at length – the result of which can be found in papers on this site.
Regardless of why a project fails, what is often overlooked is the price of failure and the knock-on effects failure can have for the companies involved in the project – from the rig owner and manager to the field operator hiring the rig or investors associated with them. What they have in common is a financial reliance on the rig drilling and producing revenue, so when things go wrong, the financial results for all these companies are affected.