Drilling Contracts – Avoiding Misunderstanding

Drilling contracts are at the core of upstream operational agreements. They come in many forms and are negotiated to varying degrees depending on the value of the contract, level of risk involved, and existence of regional forms that may dictate terms. This article focuses primarily on general terms of a typical long term, high-dollar, day-rate, offshore contract; however, many terms discussed apply to the entire spectrum of drilling agreements.

on February 11, 2015 at 4:00 PM