1135
1132
1129
1126
1109
1106
1102
1098
1095
1089
1086
1080
1075
1068
1064
1060
1057
1053
1049
1044
1041
1037
1034
760
756
751
747
742
594
77
73
 

Details

  • Singapore
  • 2012
  • Drilling Contractor
  • Jackup Rig
  • Bundled Service

Nutshell

Accurate forecasting on a client’s rig upgrade assured their client the contract would start on time, protecting their reputation.

Singapore Jackup Rig

Details

  • Singapore
  • 2011/2012
  • Drilling Contractor
  • Drillship
  • Quality Risk Management

Nutshell

We rescued an upgrade (startup) project, saving our client’s reputation with their customer as the rig entered service on time after all.

Singapore Drillship

Details

  • UK and US
  • 2011
  • Field Operator
  • All Rigs
  • Bundled Service

Nutshell

We helped redesign our client’s worldwide ‘rig start’ operations, ensuring consistency and protecting their financial performance and reputation.

UK US All Rigs

Details

  • UK
  • 2011
  • Field Operator
  • Platform Rig
  • Quality Risk Management

Nutshell

Our assurance on a $4.3bn platform construction (concept, design, engineering) let our client make accurate finance and timing projections.

UK Platform Rig 2

Details

  • Mexico
  • 2010
  • Drilling Contractor
  • Land Rigs
  • Commercial

Nutshell

Our in-depth cost investigation helped our client assess their badly overrunning rig startup projects to steer them back on course.

Mexico Land Rig

Details

  • Brazil
  • 2009
  • Drilling Contractor
  • Semi-submersible
  • Bundled Service

Nutshell

After our client was let down, our rescue team restored control on their rig repair and upgrade, initiating measures that got it back on track.

Brazil Semi-submersible

Details

  • Greece
  • 2009
  • Drilling Contractor
  • Deepwater Semi-sub
  • Project Appraisal

Nutshell

We conducted swift HAZOP studies that brought clarity and more certainty to rig-upgrade safety for both client and field operator.

Greece Deepwater Semi-sub

Details

  • UK
  • 2009
  • Field Operator
  • Platform Rig
  • Project Appraisal

Nutshell

Our rig-reactivation forecast gave our client confidence to sanction the project while shaving $4m off their contractor’s budget estimate.

UK Platform Rig

Details

  • UK
  • 2008
  • Investor
  • Deepwater Semi-sub
  • Commercial

Nutshell

Through our independent assessment of project completion, we saved our client $15m in settlements over construction cancellation claims.

UK Deepwater Semi-sub 3

Details

  • China
  • 2008
  • Investor
  • Land Rigs
  • Advisory

Nutshell

Under pressure to invest, our client drew on our expertise of their target’s rig operations to feel more secure about their decision-making.

China Land Rig

Details

  • Ghana
  • 2008
  • Drilling Contractor
  • Tender
  • Bundled Service

Nutshell

Our client needed to make short-notice modifications to a rig prior to relocation. Our rescue team made sure the rig arrived ‘drill ready’.

Ghana Drilling Rig Tender

Details

  • UK
  • 2008
  • Investor
  • Deepwater Semi-sub
  • Advisory

Nutshell

Our risk-based strategies helped our client make a significant (and successful) change of project location and contractor for rig building.

UK Drilling Rig Deepwater Semi-sub 2

Details

  • Singapore
  • 2008
  • Drilling Contractor
  • Drilling Tender
  • Bundled Service

Nutshell

We rapidly mobilized to manage the upgrade and startup of our client’s new rig, cooperating closely to achieve drill readiness on schedule.

Singapore Drilling Rig

Details

  • UK
  • 2008
  • Drilling Contractor
  • Deepwater Semi-sub
  • Quality Risk Management

Nutshell

With a slipping construction schedule, our client used our independent completion forecast to get project (and failing contractor) back on track.

UK Drilling Rig Deepwater semi sub

Details

  • France and Singapore
  • 2008
  • Drilling Contractor
  • Drilling Tender
  • Quality Risk Management

Nutshell

Our engineering and project execution oversight on a rig upgrade gave our client the confidence to focus purely on operational readiness.

France and Singapore Drilling Rig

Details

  • UK
  • 2008
  • Drilling Contractor
  • Deepwater Semi-sub
  • Due Dilligence

Nutshell

Our independent input on our client’s rig-building project aided their investment decision-making, ensuring an unbiased outcome.

UK Drilling Rig - Deepwater Semi-sub

Details

  • Norway
  • 2007
  • Drilling Contractor
  • Jack Up
  • Bundled Service

Nutshell

We mobilized to the Arctic to take control of a client’s rig upgrade, getting it ‘drill ready’ on time while saving face and day-rate losses.

Norway Drilling Rig

Details

  • Cameroon
  • 2005
  • Drilling Contractor
  • Swamp Barge
  • Project Appraisal

Nutshell

We developed a startup plan (scope, cost, schedule) for our client’s rig reactivation, providing vital tools for independent decision-making.

Cameroon Drilling Rig

Details

  • South Korea
  • 2005
  • Drilling Contractor
  • Deepwater Semi-sub
  • Project Appraisal

Nutshell

Our new systems and procedures gave our client more control over their ‘new build’ rig projects, increasing efficiency and confidence.

South Korea Drilling Rig

Details

  • Azerbaijan, Holland
    and UK
  • 2004
  • Field Operator
  • Platform Rig
  • Project Appraisal

Nutshell

Our investigation across a series of rig builds revealed areas for major efficiency savings, ultimately slashing project costs by $50m.

Azerbaijan, Holland and UK Drilling Rig

Details

  • UK
  • 2004
  • Drilling Contractor
  • Platform Rig
  • Project Appraisal

Nutshell

Our risk-based forecast helped our client better manage ‘rig startup’, and gave their field operator vital insights into their time to first oil.

UK Platform Rig 2

Details

  • USA & Brazil
  • 2004
  • Field Operator
  • Deepwater Semi-sub
  • Bundled service

Nutshell

Our independent rig-upgrade forecast gave our client confidence in their ‘drill ready’ date and saved $5m in equipment rentals.

USA and Brazil Drilling Rig

Details

  • UK
  • 2003
  • Drilling Contractor
  • Platform Rig
  • Project Appraisal

Nutshell

Our independent project review (strategy and design) helped our client proceed with a major facilities upgrade on their drilling platform.

UK Platform Rig

Details

• China
• 2009
• Investor
• Land rig
• Due diligence

Nutshell

Our global team combines industry expertise with key linguistic skills, enabling us to dig deeper and forecast outcomes better. More

Fortunetelling, Mandarin style

“Inner Mongolia to be precise,” the voice said. “Could be an important deal, we’re just not sure. I know it’s a big ask. Can you pull it off?”

One of our international banking clients had an opportunity to invest in a land-drilling rig fleet in China. The deal had just landed on the caller’s desk. To make a decision his company needed some hard intelligence. What was the state of the rigs? How did the land-drilling market operate within China? What would it take for the rig owner and their assets to go international?

The clock was ticking, he told us. The investment committee would make a decision in Hong Kong in just two weeks. We were hired to provide a risk forecast and timescale, along with a cost projection for taking the rigs international. But this wasn’t a standard case of technical and market due diligence. In this part of Northwest China, the aptly named Nomad Empire, the only language spoken at the rig sites—and used for documentation—was Mandarin.

We swiftly assembled a small international team including an advisor from our Singapore operation who was fluent in Mandarin. Within 48 hours of our taking the call, the team arrived at the first Inner Mongolian site. The Chinese drilling contractor had thirty rigs spread over the vast, empty steppes, so this was merely the start of a whistle-stop tour.

Our guys, often travelling hundreds of miles between sites, completed the investigation of a representative sample of rigs and developed a cost-and-time risk profile as a basis for forecasting. The report was presented at our client’s Hong Kong office within the timeframe everyone had hoped for.

So what?
The facts our team uncovered, and our resulting risk-based forecast, gave our client the confidence to make informed decisions that were vital to their potential investment. Armed with our intelligence, they maintained their reputation for making sound investments and reduced their potential for loss. The rigorous analysis and detail of our report could not have been achieved if a local translator was used. Based on our client’s recommendations this job led to a string of investment due diligence assignments in China, and elsewhere, for us.

Read full article

Details

  • UK
  • 2011
  • Field operator
  • Drilling rig
  • Rig intake & startup bundle

Nutshell

Our unmatched track record in achieving ‘drill readiness’ helped our client implement global change to their rig intake and startup process. More

Global Reengineering

No single person has all the knowledge you require. That’s what we’d written in our proposal, and our client had agreed. Now it was time to prove the value of our team.

Our client, a major international field operator, understood that drilling rigs were not their primary business. They would leave that to the drilling contractors. But in a post-Macondo world, they knew they needed a new approach to rig intake and startup.

A brand new department had been set up to build rigour into these processes, standardizing them and transferring know-how to the organization’s staff around the world. We’d just been awarded the contract to support the initiative, and here we were attending the kick-off.

“Now we’re up and running,” the new department’s director said, the light from the projector tattooing his face, “we’re changing the way we do things. We need to improve our approach to understanding and mitigating risks to our business before starting drilling ops. Epeus is on board to engineer the process.”

All eyes turned to us. Change is not something that comes easily to large corporations. Especially when consultants come in with their big ideas, throw their weight around and then leave. The audience was made up of senior managers from the wider organization. No doubt each had their own reasons for being wary. It was not the warmest reception, but they soon realized we were on their side.

Our client had identified a kaleidoscope of risks pinned to rig intake and startup: commercial, reputational and operational. The director had come to us for our independent rig knowledge and startup experience. We were given carte blanche to create the most effective and robust processes in the industry—and a six-month deadline to launch it globally.

We like a challenge and put together a team with complementary rig backgrounds, across operations, technical and project management. Each person was a walking repository of hard-won knowledge. Together, they achieved a cohesion that made the unit greater than the sum of its parts.

Drawing from their experience—and exchanging insights with colleagues back home—the team unpicked the workings of this mega-organization to identify and quantify the risks it faced. With all the pieces laid out on the workbench, they were able to reassemble them into a well-oiled machine.

We met our deadline, delivering a process that accounted for every aspect of the rig and ensured our client’s crews and operational controls would stand up to the demands of its ambitious wells program. During development, drilling activity began to ramp up which provided the ideal proving ground for piloting and debugging the new approach. But that’s
another story.

So what?
To meet their global wells requirements our client needed a working process in place quickly. Their department was newly formed and not fully staffed. We provided multifaceted rig experience, an unrivalled databank of rig knowledge, and support from our in-house technical and operational teams. Our client could be confident that when they needed a rig to be ready to drill, it would be. They extended our global support contract through 2015.

Read full article

Details

  • Gulf of Mexico
  • 2010
  • Drilling contractor/Field operator
  • Drilling rig
  • PRM bundle

Nutshell

Our processes shaved 60 days off a complex rig refit that enabled our client to redeploy where needed, boosting revenue by $9m. More

Texas turnaround

“You’re not going to believe this,” he said. “It’s back on and we need a team in Houston next week—sooner if you can. It’ll be a busy Thanksgiving.”

While our client’s tone was apologetic, the sudden turnaround was par for the course. Earlier in 2010, the Macondo incident had led to a drilling moratorium in the Gulf of Mexico. The ban was causing a series of start-stop projects as field operators and drilling contractors considered redeploying their fleet to new waters. Our client, the projects director for a major drilling contractor, was preparing to send an ultradeepwater drillship from Mexico to the Mediterranean.

With the US industry in turmoil, he needed the rig ‘drill ready’ in the Med within six months. The extensive modifications required for the new drilling campaign would be hard enough in this timeframe. But the difficulties were compounded by the heightened reputational risk environment. With every drilling contractor under intense media scrutiny at that point, our client couldn’t afford a false step. He needed our help.

Within 48 hours of the call, our advance party of two advisors arrived at our client’s office in Houston. A multi-disciplined support team would follow on, having been immediately notified. Our advisors’ first task was to understand the overall project. The scope was  extensive and little prep work had been done, as the transfer had come out of left field. (The drillship itself took its name from a deep ocean trench, which seemed appropriate as our team felt they were staring into an abyss.)

Items with long lead times were an issue. Plus, the rig was changing management regions which always brings its own challenges. Nonetheless, our team started to pull things together. Within the week, we had a full-strength project management and technical team of nine souls on the ground, split between the Houston office and the rig offshore.

Implementing our project-management processes and approach, we defined the project, its risk profile and associated actions for management and mitigation. Working closely with our client to develop the scope, we identified local design, engineering and construction contractors that could execute the job safely while keeping the rig offshore. To everyone’s delight—including the field operator’s—the newly modified rig sailed out of the Gulf of Mexico within four months of us mobilizing our team.

So what?
Starting from a blank canvas, tricky modifications were completed safely and with all due speed. During the ban, the rig remained on contract (but not drilling) albeit at reduced earnings. Making it drill-ready for its Mediterranean transfer within four months meant the rig resumed its full day-rate 60 days faster than envisioned, boosting our client’s revenue by $9 million. Moreover, with our team managing the project, our client could keep his own internal resources focused on day-to-day operations.

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Details

  • China & Netherlands
  • 2011
  • Drilling contractor
  • Drilling rig
  • Project appraisal

Nutshell

Our accurate ‘drill ready’ forecast restored our client’s confidence and their reputation for delivering industry innovation. More

Accuracy is the best policy

Today’s oil reserves would be unreachable without the drilling technology developed in recent years. But innovation brings risk. Which is where we come in.

If drilling contractors held an Olympics, its motto would be ‘bolder, deeper, faster’. While there may be no podium or medals, for those involved the stakes are higher. As our clients compete with ever greater challenges, success requires an athlete’s self-belief.

But confidence can be shaken. In 2010, a drilling contractor executive explained that his company was building a prototype deepwater drilling rig that would push the boundaries once again. Costing in the region of $800 million, the new concept should have been cause for shareholder excitement. At the time, though, financial analysts were pounding the drilling contractor over their track record of rig delivery. Their stock price had tumbled and the
board had lost confidence in its own team to meet the delivery of the new rig.

Drilling projects measure their horizons in months and years. And the uncertainty of the eventual outcome makes shareholders—and the markets themselves—uneasy. If this rig was not ready when they said, our client stood to lose $500,000 for each day it was late, which in turn would increase the probability of further erosion of their stock value. At the time, a hit
of just three dollars per share would have devalued the organization by approximately $1 billion.

The situation was grave. The executive team’s tolerance for risk had been surpassed. They had lost confidence that the rig would be completed within the scheduled estimate of 10 months. The executive team needed credible and independent confirmation of when the rig would be ready to drill.

We immediately dispatched a team to investigate the project. Drawing on our unique  combination of engineering, project management and drilling rig knowledge, we rapidly developed a delivery forecast on a sliding scale.

With our tried-and-tested qualitative and quantitative risk-profiling and analysis techniques, we pinpointed a ‘most probable’ drill-ready date that was four months later than our client was hoping.

A potential earnings impact of $60 million was not the news the CEO of our client wanted to hear. However, the rigour of our approach made it clear the forecast was not pessimistic, but pragmatic. The risk profile and completion status of the project meant that the ‘drill ready’ date could not be recovered. But knowing where they stood brought stability back to our client, and its shareholders. A little over 14 months after our analysis, the rig was accepted
as drill ready—right in line with our forecast.

So what?
Confidence was restored. Acting on our findings, our client made provisions for the delay costs, adjusting its earnings forecast to prevent any further stock value erosion attributable to the prototype project. Effective management reduced the severity of the situation and our client began to rebuild its tarnished drill-ready reputation.

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Details

  • Brazil
  • 2012
  • Drilling contractor
  • Drilling rig
  • PRM bundle

Nutshell

We prevented our client from losing $50 million, while our involvement reassured the field operator, who kept the rig on contract. More

A blessing in disguise

The drilling game is a small world, and we’re on good terms with many seasoned executives. But on this occasion, our reputation was mud even before we were  called.

Relationships are key in our business, and we had a particularly good one with one of our drilling contractor clients. Or so we thought. Then early in 2012, we got an angry email from an executive we’d worked with on many successful consulting assignments over the years.

In no uncertain terms, he asked why we’d failed to deliver a project to install a flare boom on one of their operational deepwater drillships in Brazil. The offshore installation was a tricky job and vital for safety. But, our client wrote, the preparations lacked rigour and his client (the field operator) had lost faith in his company to safely deliver the project. And he had lost faith in us.

His anger was understandable, but misdirected. None of our team was currently assigned to their projects in Brazil. We picked up the phone right away and broke the news. (We had, in fact, quoted for the work the year before but had been deemed too expensive for this kind of project. In the heat of the moment, the executive mistakenly assumed it was us.) The risk of massive losses can cloud anyone’s memory, though, so we had no hard feelings. Still, it was no laughing matter either; our client was in crisis mode.

Important relationships had broken down, and the situation was grave. The contractor they’d chosen had failed to account for some essential details. The field operator, deeming the project unsafe to proceed, was considering taking the rig off contract until the flare boom was installed and operational.

While the contractor was duly fired, our client had no strategy to recover the situation and their reputation for safe and professional operations had been severely dented. Piling on the pressure was the uncertainty over the rig’s status, then earning $550K per day. If it went ‘off hire’, our client had no idea how long it might take to get the rig drill ready again. Losses could be huge.

Fortunately, our client had inadvertently wasted no time in calling us. (It was to the advantage of both of us that we had been ‘top of mind’.) We scrambled one of our advisors to Brazil to assess the situation. At the same time we began assembling a project recovery team to complete the installation of the flare boom.

Within 24 hours, our advisor was on the ground cooling the situation and preparing for our recovery team’s arrival. Within ten days we had fully manned up, including a construction manager fluent in Portuguese.

Crucially for our client, Epeus and our abilities were known to the field operator. Our rapid response was enough to reassure them that the project would be completed in a safe and controlled manor. Relationships were repaired, the project recovered, and the flare boom safely installed four weeks ahead of the field operator’s original schedule. The rig stayed on contract earning its day rate throughout.

So what?
Our wider industry reputation and swift response prevented a potential loss for our client in excess of $50 million, while our completion ahead of schedule saved them around $1.5 million in direct costs, more than covering our ‘project rescue’ fee. We also got an apology from our client for thinking it was us who had failed.

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Details

• Egypt
• 2002
• Drilling contractor
• Jackup rig
• PRM bundle

Nutshell

We accurately forecast stricken rig’s return to duty, mentored the local crew on large-scale repairs—and saved our client's reputation. More

Fractures in the Red Sea



‘It’s one of our older rigs,’ the voice said, a touch strained. ‘She’s had a major incident and, to be honest, I’m not sure the crew’s up to it. Can you help?’

The stricken vessel was a jackup rig belonging to a major drilling contractor; the voice belonged to their VP for Projects. He wasn’t happy. Out in the Egyptian Red Sea, the rig’s blocks had smashed together, shearing off and crashing onto the drill floor and drilling equipment, damaging the derrick and substructure as they went. Fortunately, no one was injured. We rapidly assembled our small multi-disciplinary task force and mobilized to Cairo.

When we arrived, the rig lay alongside a cargo jetty just outside Port Suez. Despite appearances—the rig’s crane-like legs and derrick rising into the sky—there were no actual cranes or any infrastructure to support such a large repair project. This serious problem was  compounded by our client’s desire to kill two birds by undertaking essential equipment maintenance while the rig was docked. The damage itself was covered by insurance, but we gained a boatload of paperwork that threatened to push us off job one—getting the rig ‘drill ready’ again.

Naturally, the Egyptian field operator was keen to get our client’s rig back to service quick smart—two months, by their count. We saw things differently, however. The initial investigation had identified another fracture (a breakdown in the rig crew’s cohesiveness) as a key reason for the dropped block. In an effort to rally the crew, the VP now wanted them to manage and deliver the project themselves, albeit with our support. Which presented one final hurdle; the crew had never handled a repair project on this scale.

After outlining the scope of repair and developing a risk profile for the project, we knew that two months just wasn’t feasible. Our report encouraged an earnings forecast adjustment based on a probable return to duty of three months. It was a hard pill to swallow, but the client trusted our expertise and the perspective we brought to the job. Now they knew where they stood and could plan accordingly. We set to work, knowing things would be tight even with four extra weeks. Given a realistic deadline, though, the crew perked up. With our mentoring,  hey proved themselves keen and capable. Vessel and crew were back at sea within the planned three months.

So what?
Our client’s rig returned to service with all due speed; the crew regained morale and cohesiveness through our leadership and support; forecast earnings were adjusted in line with our planning, preventing any additional surprise losses; the insurance claim was accepted and settled; and our client’s regional reputation with their field operator client was restored. The drilling contractor has used our services every year since.

This was our first project back in November 2002, just days after incorporating. Since then, we’ve delivered almost 200 others.

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Details

  • Alaska
  • 2010
  • Field operator
  • Land rig
  • Project appraisal

Nutshell

Our pragmatic approach to ‘drill readiness’ protected our client’s interests, saving them money and their reputation when a contractor didn’t deliver. More

To boldly go? Or not!

The choice may never have occurred to Captain Kirk, but it’s one our clients often face. The urge to press on regardless can be costly.

When you’re operating at the edge of the Arctic Circle, it’s never business as usual. Drilling contractors and field operators contend with all kinds of uncertainty, from stringent regulatory hurdles to extreme weather conditions. Although they want the same thing—to be drill ready—over-optimism can derail the project for both parties.

A client of ours, a major field operator, had reached an impasse with their drilling contractor over an order for two new Arctic Land Drilling Units. While the rigs were still under construction in Washington State, a decision had tobe made whether to ship them or not.

Our client was supply chain vice-president for the field operator’s Alaska division. Contractually, the decision was out of his hands. But if the drilling contractor decided to ship the rigs up to Alaska, our client needed to know if the rigs could be completed and accepted on time by December.

“If they don’t ship out,” he said, “the North Slope will be iced in and it’ll be next summer before we can start drilling. If they do ship out, we’re not sure when the rigs will be ready. We could use an independent view.”

It was already May. Once summer was over, the Arctic pack ice would preclude shipping. The window was closing fast. We promptly mobilized a land-rig assessment team to the Washington shipyard, where the rigs were being built.

Our client, of course, was as keen as the drilling contractor to have the rigs on site and  drilling. But they also knew the best chance of that happening would be if the rigs were completed before being shipped. This, according to our team on the ground, was impossible.

The drilling contractor conceded that work at the shipyard might not be finished, but was adamant they could still ship the units on the original date and start drilling on schedule, completing any final construction in Alaska.

Our team discovered the contractors still had a mountain to climb before the rigs would be finished. The schedule was already unrealistic and work would go even more slowly at the North Slope—especially at 30o below.

After measuring construction progress and developing a risk profile for the carryover work, we knew the drilling contractor was asking too much of its Alaskan work crews. By our reckoning neither rig would be ready to drill until the following summer, at the earliest. After a few days, we’d seen enough and advised our client of our findings.

We recommended that the drilling contractor complete the job at the Washington yard and hold off on sending the rigs till the spring. The drilling contractor was unrelenting, however, and shipped the units out as planned. Acting on our insights, our client amended their own expectations well in advance of the scheduled drill-start date. Management strategy was
developed and contingencies made. We weren’t surprised to learn that the rigs didn’t go to work on schedule.

Armed with a clear understanding of where it stood, our client held the drilling contractor in default. Acknowledging their error, the contractor agreed to a contract amendment for commencement of drilling operations.

So what?
The facts and risk forecast outlined by our report helped protect our client’s interests. In the end, our forecast of drill-ready dates—initially challenged by the drilling contractor as unrealistically pessimistic—proved to be a touch optimistic. The first rig is expected to be ready to drill in the fourth quarter of 2012; the second is expected to start operations a couple of months later.

Read full article

Details

  • UK
  • 2010
  • Field Operator
  • Platform Rig
  • Project Appraisal

Nutshell

We developed tools which use available data to choose the right technology for reactivating rigs, saving money and reputations. More

Power tools and leverage

“Look, I’ll level with you. Our last one of these projects was a disaster and if it happens again I’ll be down the road.”

The speaker was the wells manager of an independent field operator whose asset base and wells programme was rapidly growing. His tone was businesslike and his voice steady, but he had a real dilemma on his hands. His last reactivation project had cost far more than anticipated and now he was responsible for another job. One more failure and it was curtains.

Technology had moved on. Modular rigs were now available which could be installed onto a platform temporarily. On the face of it, this negated the need to reactivate—or even maintain—an aging rig in situ. However, modifications to the platform would be needed to accept a modular rig.

While the wells manager was tempted, he needed to be certain that a modular rig was the best option—technically, operationally and economically. A wrong choice could be very costly. To complicate matters further, our client had not completed their wells specification and their senior management wanted to make a decision within a month.

Kicking the project off, our team discussed options and variables. Drawing on their combined experience from drilling operations, technical and rig projects they quickly filled in the gaps of our brief, deciding on an approach for the analysis. Time was the main factor and the best comparator for the economics; efficiency and safety were the operational measure. All this hadto be plotted against a baseline estimate for reactivating the existing rig, along with a project and operational-risk profile for both options.

Four weeks later, we delivered a set of curves that clearly showed when each option—modular or reactivation—made economic sense, relative to our client’s proposed drilling campaign. To add context, we included a comprehensive risk profile and ‘worst case’ time-and-cost sliding scale for both options.

The technical analysis also picked up a failure point with the modular rig’s operation which gave our client leverage with the drilling contractors, who either had to solve the problem or offer better commercial terms in the event of the failure.

The ‘worst case’ sliding scale allowed the wells manager to develop his budgets based on real risk data. He could also be more confident of the likely outcome when their drilling contractor suggested a way forward in future. Our client has undertaken several drilling campaigns since this case and the wells manager still has his job.

So what?
Our client was uncertain about which path to choose and knew that the wrong decision would be costly. The ‘power tools’ we developed used easily compiled data to help our client decide on the best option—modular rigs or reactivation—on every drilling campaign from that point forward.

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