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Day Rate news and technical articles from Oil & Gas Financial Journal. Search Day Rate latest and archived news and articles
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Gastar wells demonstrate productivity of Marcellus Shale
… horizontal Marcellus Shale wells, the Wengerd 1H and 7H (44.5% WI, 37.5% NRI), produced at a combined gross initial 30- day rate of 7.1 MMcfd of 1285 btu/Mcf natural gas and 176 bbls of condensate per day. Production began August 11, and they are …
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Industry Briefs
… horizontal Marcellus wells, the Wengerd 1H and 7H (44.5% WI, 37.5% NRI), produced at a combined gross initial 30- day rate of 7.1 MMcfd of 1285 btu/Mcf natural gas and 176 bbls of condensate per day. Production began August 11, and they are …
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Post oil spill: why risk mitigation is now a top-line driver
… average value of one five-year contract (based solely on day rate ) is approximately US$727 million, these 50 assets represent ..... 412K per day x 96.5% uptime x 365 days x 5 years (Note: day rate was calculated as of 10/1/10, using the average of deepwater …
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IHS: Driven in part by Asian buyers, private cos may be big sellers of Niobrara assets
… located in Laramie County, southeastern Wyoming. The well was completed in November 2010, and posted an impressive IP (30- day ) rate of about 500 Boe (95% oil) per day. “Again, while it is early yet,” said Del Pozzo, “based on our initial research …
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Partnership drilling contracts - a wolf in sheep’s clothing?
… they should know the difference between day - rate contracts and turnkey contracts and the ..... industry uses variable price contracts ( day - rate contracts) for the vast majority of the ..... of this article, and then come back. Day - rate vs. turnkey contracts Under both types …
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Rosetta Resources’ inventory of Eagle Ford shale net risked resources up 60%
… averaging 13-15 frac stages per well. There are currently five wells waiting on completion. The gross per well seven- day rate on the 2010 Gates Ranch wells averaged 330 Bbls of condensate, 460 Bbls of NGLs, and 2.9 MMcf/d of residue gas, for …
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Deepwater Horizon sinks, many still missing as oil predicted to reach coast
… needed. Transocean has not yet determined the cause of the accident. The rig's current contract with BP had an adjustable day rate estimated to earn Transocean $458,000 beginning in March 2008 and $517,000 in September 2010. Last fall, BP won a three …
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Developing sustainable solutions to volatile oil and gas pricing
… sustainability, this approach is risky, particularly for companies that are distressed. In upstream, negotiating a lower day rate on a rig is helpful, but decreasing non-productive time, reducing the number of days a rig is utilized, and incorporating …
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Wage and hour dilemmas: how nice guys finish last
… more overtime hours they work. [See, e.g., Dufrene v. Browning—Ferris, Inc. 207 F.3d 264 (5th Cir. 2000) ( day rate under §778.112).] The subject of overtime and compliance under the FLSA is large and complicated. Other issues that …
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AN INTERVIEW WITH ST. MARY’S TONY BEST - St. Mary’s CEO sees geographic diversity as competitive strength
… negotiated good deals for themselves. Things have loosened up since then and it is easier to find rigs now. We have begun to see day rate reductions in some of our regions since the end of 2006 and we are continuing to watch these costs closely. Bottom line - I believe …