Infill Thinking Lifting the O&G knowledge curve
Although the drilling rig itself is only about 10% of total onshore well costs these days, it has become the epicenter of the industry’s latest technology craze: automation, digitization, and big data. As market leaders embark on a new technology cycle, drilling days/well are poised to keep trending down. One day we may look back at the two decades starting with the AC rig build spree in 2004 and wonder why the land contract drilling industry was so intent on working itself out of a job. By 2030, we wonder if the land drilling business will even be recognizable.
We break down Precision Drilling’s analyst day and talk about what it all means for the business of punching holes in the US onshore market.
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