Drilling Market Focus: Desire for new rigs exceeds manufacturing capacity

The drilling market is buoyed by newly designed rigs but hampered by bottlenecks in manufacturing “smart iron.”It’s old news that drilling is increasing and day rates are rising, spurring rig building programs throughout the world. Among the hundreds of new builds, however, are a few new designs, which take advantage of technological innovations that improve efficiency, increase safety, and decrease the environmental impact of drilling. Pennsylvania's Union Drilling took possession of two newly built SpeedStar top drive drilling rigs from Oklahoma's George E. Failing Co. in fourth-quarter 2005 (Fig. 1; photo from Union Drilling Inc.). Click here to enlarge imageInnova...

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