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What are the pros and cons of self-operate exploration drilling machines and Contract Drilling Companies in the mining industry?
In the mining industry most companies cannot afford the cost of maintaining the drilling equipment nor infrastructure required to do inhouse exploration. Self-operated exploration drilling requires the company to have and H/R staff which can higher high caliber people and then attach them to the corporate employment package for the long term. Most self-operated exploration drilling machines cost 2 times as much as contract drilling companies that can distribute the costs and employment agreements over multiple footage projects and locations. Contract Drilling companies stay abreast of new developments in the industry and maintain records to track costs thus arriving at the most economical footage results available for the formations being drilled. (no hidden cost) Self-operate exploration drilling have costs that are ignored and/or written off in other areas of the corporate structure. ie Repairs, fuel, moves, administration. Pro of Self-operated exploration drilling are that the company attains the information on the ore bodies in a more timely manner to make mining development decisions on and operating mine. Self-operated exploration drilling and contract drilling is similar to large mining company keeping staff to do raw exploration- they don't. The large mining companies invest in the junior exploration companies to find new ore bodies which allows them to have experience people looking for ore bodies and managing them selves vs. maintaining a large costly exploration staff. The juniors use contractors because they cannot afford the large capitalization for the drilling equipment and tooling to do small exploration projects to see if they have and ore body. If the junior finds and ore body the large mining company will fund the drilling project for a percentage of the property or will buy out the juniors stock to own the property. The economics of the property will dictated the pros and cons of in-house drilling or contract drilling. It may come down to the risk involved in the ore body involved.
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What are some examples of companies that offer drilling jobs?
The following are some examples of companies that offer drilling jobs; Power in cooperation, Parker Drilling, Cactus Drilling, and Apache Corporation.
Where is natural gas exploration focused?
natural gas exploration and drilling, which accounts for 80 percent of all U.S. drilling activity, will be focused inland, petroleum exploration is shifting toward more offshore locations.
What is onshore and offshore petroleum exploration?
Petroleum exploration is where a rig or ship is used to drill into the earth or seabed to locate oil reserves. For offshore exploration a drill ship, jack-up drilling rig or floating drilling rig can be used. For onshore applications mobile drilling rig is used.
Who is responsible for oil drilling?
Oil drilling is primarily the responsibility of oil companies, which can be multinational corporations or smaller independent firms. These companies conduct exploration, extraction, and production activities, often in partnership with governments or local entities, especially in regions where oil reserves are located. Regulatory agencies in each country also play a critical role in overseeing drilling operations to ensure compliance with environmental and safety standards.
Is there any drilling rig in Indian Ocean?
Yes, there are drilling rigs operating in the Indian Ocean, primarily engaged in oil and gas exploration and production. Countries like India, China, and various international oil companies conduct offshore drilling activities in this region. Additionally, there are various exploratory and production platforms in areas such as the Arabian Sea and the Bay of Bengal. These operations are subject to regulations and agreements between nations and companies involved.
What are the examples of deep exploration project?
Finding and drilling for oil deep in the ocean.
Who are the Geothermal Drilling companies in Oregon?
Geodyne Inc.
What type of company is the Precision Drilling Corporation?
Precision Drilling Corporation is a publicly owned company based in Canada. It is a natural gas exploration and drilling company with operations throughout North America.
What is SIC 1081?
covers establishments primarily engaged in performing metal mining services for others on a contract or fee basis, such as the removal of overburden, strip mining for metallic ores, prospect and test drilling, and mine exploration and development
How did environmental concerns affect the oil and gas field exploration services industry?
Environmental concerns had also increased the cost of local drilling, further spurring American exploration firms to turn their attention to drilling outside of the United States,
What is the Alaska Permanent Fund Dividend?
The Permanent Fund Dividend is the anual payout of the dividends of the Permanent Fund. The Permanent Fund is a state-invested fund that receives moneys from the oil companies drilling and doing exploration within the state of Alaska. This allows all the citizens of Alaska to benefit from the oil exploration.
What has the author Norman J Hyne written?
Norman J. Hyne has written: 'Geology for petroleum exploration, drilling, and production' -- subject(s): Petroleum, Prospecting, Petroleum engineering, Geology 'Dictionary of petroleum exploration, drilling & production' -- subject(s): Dictionaries, Petroleum, Petroleum engineering 'Nontechnical guide to petroleum geology, exploration, drilling, and production' -- subject(s): Prospecting, Petroleum, Petroleum engineering, Geology
