The oil and gas industry is one of the largest sectors in the world in terms of dollar value, generating an estimated $5 trillion in global revenue as of 2022. Oil is essential to the global economic system, influencing everything from transportation and heating to electricity, industrial production, and manufacturing.

Exploration & Production (E&P) companies typically do not own their drilling equipment or operate drilling rigs. Instead, they hire contract drilling companies like us to drill wells on their behalf. Contract drilling companies generally charge for their services based on the amount of time spent working for an E&P company.

Drilling companies do not earn revenue directly from oil and gas production, unlike E&P companies. Once a well is drilled, multiple activities are required to develop and maintain its production over time. These activities are known as well servicing and may include logging, cementing, casing, perforation, fracturing, and ongoing maintenance.

Oil drilling and well servicing therefore represent two distinct business operations within the oil and gas industry.