(Before jumping into this sector, learn how these companies make their money in Oil And Gas Industry Primer.) IN PICTURES: Top 10 Green Industries. History of the Business It took more than 30 years for people to begin looking for oil somewhere other than beneath dry land. read more
Oil companies (offshore operators) use many different contractors to help them drill offshore. The overall metrics used to evaluate drilling performance include: Drilling cost from SPUD to Final Total Depth (from when the drill bit starts rotating until it stops rotating) adjusted for inflation. read more
Off shore drilling is generally considered to be when the rig is over water. Typically saltwater. If you can use a boat to get to the rig then it’s offshore. The majority of offshore drilling is in very shallow water, 10–100 ft (3–30ish meters). That’s majority of activity, not necessarily wells or footage. read more