This is what it takes to support the guys in the field running a three rig program in the L48:
4 x Drilling Managers
4 x Chief Engineers
40 x Drilling Engineers
40 x Completion Engineers
12 x Drilling Techs
8 x Miscellaneous
This is all supported by Global Wells with:
1 x VP
2 x Chiefs
1 x Technology team and manager of a dozen or so
1 x Technical support team of a dozen or so
6 x Miscellaneous
(Assuming a burden if 25% thats an extra 8 people for three onshore rigs)
It sounds like the potential well in Malaysia in two years time is already planned and simply neds the costs updated - time to cut back to the drilling manager only? How about other BU's?
There are least 5 drilling engineers working in the Malaysia BU, planning a well or maybe two that may or may not be drilled until next year. In addition to a Drilling Supt and a Drilling Manager.
On a side note, last in the data released showed the price of oil and gas in the BU's. What was not shown was the revenue and expense in the side packet data! To me the revenue and expense are just as important!
Haha.... sounds about right. Just have the pumpers do it they take care of everything else. Close the offices and fire all that don't wear steel toes.
ConocoPhillips CEO says plans to run only 3 rigs in lower 48, doesn't make sense to run more at current prices. http://af.reuters.com/article/commoditiesNews/idAFL2N15J24H
There's no way Conoco is running only 3 rigs in L48.. Don't believe it!
Glad to see COP has made the transition to a lean, nimble, independent! What a joke.
The futures strip has April 2017 as the next time we will see $42 oil ... why have all these drillers in the office on the payroll for fifteen months?
It only takes a drilling manager, two drillers, a completion engineer and a workover guy to manage three rigs.