IADC AIP Committee

IADC AIP Committee

Meeting & Venue Details

Start DateDecember 10, 2020Start Time9:00 am
End DateDecember 10, 2020End Time11:00 am


  1. Anti-trust policy
  2. Election of Officers for 2021
  3. Asset componentization
    1. What level of componentization are folks currently employing?
    2. What policy re: major repairs / overhauls are you currently using?
    3. If you could change anything, what would you change?
  4. Fresh start accounting policy revisions
    1. What accounting policies are you exploring changing?
  5. Asset valuations
    1. What approach are you all taking with respect to asset (rig) valuations in chp. 11? Normal income method DCF or something else?

IADC Accounting Issues/Procedures (AIP) Committee Mission

The mission of the IADC Accounting Issues/Procedures Committee is to facilitate the exchange of information regarding accounting and financial reporting issues, current/proposed processes and compliance with FASB, PCAOB and SEC rules and regulations through the exchange of best practices among its committee members and the industry.

Quick Links

General Committee meetings are open to participants from all categories of IADC membership. The Chairman may invite non-members to attend when it furthers the interests of the Committee. At the discretion of the Chairman and IADC staff, the meeting or portions of the meeting may be exclusively reserved for drilling contractor members. Meetings will be held at such times and locations as may be selected by the Chairman with the advice of the Committee. For any questions, please contact the IADC Committee Coordinator.