Directional Drilling Contracts: Things You Need to Know

Directional drilling is a technique widely used in the oil and gas industry to drill wells that are not vertical. Directional drilling contracts are agreements between drilling contractors and oil and gas companies that specify the terms and conditions for directional drilling services. So, in this article, we are going to discuss some important aspects of directional drilling contracts that you need to be aware of. Scope of Work: The scope of work is the most important part of a directional drilling contract. It outlines the specific services that the drilling contractor will provide. These include the type of well to be drilled, the project location, the drilling technique to be used, the time frame for completion, and the performance metrics. The scope of work should be clear and unambiguous, and should accurately reflect the expectations of both parties. Payment Terms: The payment terms and conditions of a directional drilling contract typically depend on time and mater...