Rig activity: What it means for people in the field

Here is the honest truth about working in the drilling business: Consistent work for rig hands is dependent on a company’s rig utilization.

Utilization rate = drill days ÷ total available rig days

Drilling contractors, such as Trinidad Drilling, are hired by oil and gas exploration and production companies to drill wells. In order for rig hands to have work, a drilling company needs to have its rigs under contract.

Our crews are consistently working because Trinidad has one of the highest levels of long-term contracts and some of the best utilization rates in the business. Continue reading