In a significant court decision that is a victory for drilling contractors, the English Court of Appeal last week ruled in favor of Transocean with regard to how drilling contract consequential loss clauses should be interpreted.
In response to the Bureau of Safety and Environmental Enforcement’s (BSEE) release today of the final rule regarding blowout prevent (BOP) requirements and reforms in the areas of well design, well control, well monitoring and subsea containment, IADC President Jason McFarland issued the following statement:
“As the owners of drilling rigs and blowout preventers, IADC members are acutely impacted by this rule. Since BSEE issued its initial proposal last year, our members have participated in joint industry workgroups to carefully consider each of the points of the lengthy and detailed Well Control Rule, and submitted comments several months ago.
The International Association of Drilling Contractors is hosting today an “IADC Onshore Drilling 101” Lunch and Learn. The event, held in the House Natural Resources Committee Room 1334 at noon, will detail the basics of drilling and hydraulic fracturing, along with the positive impacts on the US economy.
“The opportunity to educate individuals creating our nation’s energy laws and regulatory policy is something IADC is proud to do. IADC members believe that by providing at least a base level of understanding of how the industry functions and operates, we will aid in the more knowledgeable and efficient formation of regulation and legislation that ultimately better serves the U.S. taxpayer and industry,”
In response to the release of the US Department of the Interior’s proposed 2017-2022 Outer Continental Shelf Oil & Gas Leasing Proposed Program, IADC President Jason McFarland issued the following statement:
“This Administration says it promotes an ‘all of the above’ energy mix for this country, but their words are not backed up by their actions. By failing to include an Atlantic lease sale in the upcoming 5-year-program, the Administration is taking jobs off the table and failing to prudently develop the natural resources that belong to all Americans. This is a missed opportunity for our members to supply more jobs for the American economy.”
Today, the White House released President Obama’s 2017 budget proposal. In response, IADC President Jason McFarland issued the following statement:
“The U.S. oil and natural gas industry supports 9.8 million jobs and contributes billions of dollars each year to the U.S. Treasury. Despite these significant contributions, the President’s budget continues to use the oil and natural gas industry as an ATM to pay for proposals to fix traffic congestion, poor infrastructure and other items that our nation needs to address...
A new Joint Industry Project (JIP) to establish an industry-wide BOP Reliability Database recently formalized the initial phase of work. The ultimate aim is to produce a single source of quality information on the performance of BOP systems. The JIP was initiated jointly by the International Association of Drilling Contractors (IADC) and the International Association of Oil and Gas Producers (IOGP).