Post on 12-Apr-2017
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100 Jackup Floater $/bbl WTI Infla@on adjusted
309 Jackup deliveries 2006-‐2018 220 Floater deliveries 2008-‐2020
108 companies since 2008 !!!
Build Cycles vs Oil Price
Not since the early 80’s has the industry seen a collapse in oil price coincident with a massive oversupply of rigs. It was almost two decades before ac@vity recovered and dayrates rebounded to a sensible ROI. In 1984 I was the commissioning manager of a newbuild semi in Aberdeen, Scotland for Global Marine … one of seven rigs operated from that office. By the summer of 1986 Global Marine had filed for Chapter 11 bankruptcy and all the North Sea rigs were stacked (mine was returned to creditors). The Area Manager and the other six rig managers were either released or reassigned, and I stepped up to the role of Area Manager with immediate responsibility of ge_ng the stack costs down or losing all the rigs to creditors. I nego@ated a strategy with the local authori@es to moor the three semisubmersibles unmanned in the Firth of Forth and nest the jackups in proximity with a fast response team in proximity. Offshore headcount was cut from 700 to 10 (5-‐on/5-‐off), the staff headcount was cut from 55 to 5, and the insurance terms were renego@ated. Aggregate stack costs were reduced to less than $5k/day per rig. Aggressive as this was, it was done responsibly, with due aben@on to asset preserva@on, and with appropriate considera@on for the challenges of an eventual startup. • Remote monitoring was installed on the semis, and abended by the fast response team on the jackups …
excursion alarms, anchor tensions, inclinometers, bilge level sensors, intrusion alarms, and nav aids. • A comprehensive applica@on of vola@le corrosion inhibitors … powders, emibers, lubricants and waxes. • Dehumidifica@on of the accommoda@on and all the machinery & working spaces. Humidity levels were
maintained at 40-‐45% … sufficient to prevent corrosion, but not compromise elastomers. • Portable enclosed, skid-‐mounted generators of ~ 100 HP were installed topside to power par@cularly the
dehumidifica@on load. Fire sensors registered remotely and CO2 smothering ac@vated automa@cally. • Cer@fica@on was suspended as was permibed. • Startup requisi@ons were prepared. • A priori@zed recall list was prepared before releasing the crews, and best effort was made to keep contact.
Recognizing that the circumstances of 1986 had repeated, in August 2015 I introduced a collabora@ve venture of the industry experts in the above disciplines … Integrated Rig Stacking Solu@ons LLC, for which I act essen@ally as a business development manager. Our members can either augment contractor ini@a@ves, or collec@vely we can undertake a comprehensive turnkey offering.
Chip Keener – President +1 832-‐526-‐4310 mobile
chip@keener-‐consulGng.com www.keener-‐consulGng.com
Integrated Rig Stacking Solutions LLC
Integrated Rig Stacking Solutions LLC A collaboraGon of experGse in the preservaGon, maintenance, mooring and monitoring of offshore rigs
Chip Keener – President +1 832-‐526-‐4310 mobile
chip@keener-‐consulGng.com www.keener-‐consulGng.com
Experts in the applicaGon of VCI products, with a wealth of experience in laying up rigs www.universalcorrosion.com
150 years of combined experience in engineering marine venGlaGon systems, delivering desiccant dehumidificaGon soluGons in offshore applicaGons www.eldridgeusa.com
(VolaGle Corrosion Inhibitors) www.cortecvci.com
The world leader in VCI products
in facilitaGon of strategies to responsibly unman drilling rigs www.rigstat.com
Industry experGse in remote monitoring & control
integrated rig operaGons achieve project objecGves, and support field operaGons www.ideea-‐llc.com
Experienced company with the technical depth and experGse to support, and effecGve soluGons to moor
dynamically-‐posiGoned rigs, parGcularly in scenarios where they may be unmanned www.intermoor.com
The global mooring industry leader, providing customized