Rig contractors, notably Maersk Drilling, are now increasingly focused on drilling performance improvements to boost metres drilled per day and reduce time taken per well in line with operators’ requirement to cut costs after a near 60% plunge in oil prices since 2014.
“There has been a tremendous improvement in drilling efficiency over the past two years,” Jarand Rystad, managing partner at research firm Rystad Energy, told the Norwegian Petroleum Society’s annual RIg Summit in Oslo on Thursday.
He
