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TLast week, we showed the results from a LinkedIn poll that we conducted last year, asking how frequently you thought downhole losses were occurring. Here's a reminder of the results below:
- 1 to 10 wells: 22%
- 11 to 20 wells: 29%
- 21 to 40 wells: 19%
- 41+ wells: 30%
We checked these against our database (30 years and counting of information) and have found that drilling losses are becoming more frequent.
- Historical losses: Average 1 in every 30 wells
- Last two years: Average 1 in every 22 wells
Is this surprising? Why do you think this is occuring?
If you're an operator, contractor, or agent, call 214-346-1512 x10 or email cwebb@transpacmgrs.com for a free quote before you send your equipment downhole.
We've Got You Covered
Have you made your list?
Transpac Managers, Ic. Has seen many types of downhole claims. What are the most common?
When drilling a well, SH@! happens
Are you performing pipeline inline inspection operations and what to ensure that your tools are covered in the event of a loss?
Drilling Losses are Becoming More Frequent
If you are an operator with an active drilling program and want to ensure all your wells are covered from the costs and hassles of downhole tool losses, Transpac Managers is offering an express program for either 100% or 50% coverage. It's easy to apply and most wells are approved within 24 hours. A deposit is only required for the first well. first well No matter the application, make sure your tools are covered on your next operation. Call 214-346-1512 x10 or email cwebb@transpacmgrs.com for more information on our limits and for a free quote before you send your equipment downhole.
Transpac Managers' Downhole Tool Insurance is available to help ensure a lost-in-hole event doesn't blow your entire budget. On average, a well costs between $6M and $9M to complete in the Permian Basin: - Drilling costs account for approx. 30% (between $1.8M to $3M) - One Downhole Tool loss of $1.5 million could use up almost your entire drilling budget No matter the application, make sure your tools are covered on your next operation. Call 214-346-1512 x10 or email cwebb@transpacmgrs.com for more information on our limits and for a free quote before you send your equipment downhole.
The Transpac Managers team is consistently asked why companies need Downhole Tool Insurance. Check our four key reasons and let us know if you purchase insurance for different reasons. - Lost tools, due to sticking, are not insured under most Commercial Insurance Programs - LIH losses can have a more dramatic economic effect on smaller drilling programs - BHA replacement costs are rising and even if contractors reduce exposure by 50%, you still have significant LIH exposure - Your drilling, wireline, coiled tubing, and fishing tools can all be covered under one policy No matter the application, make sure your tools are covered on your next operation. Call 214-346-1512 x10 or email cwebb@transpacmgrs.com for more information on our limits and for a free quote before you send your equipment downhole.
Did you know that you can secure downhole fishing coverage from Transpac Managers to further protect your assets and reduce risks? With this insurance, your incurred costs when retaining a third-party fishing company’s services to retrieve or free stuck downhole tools will be covered. This is only available for well sections where BHAs/equipment are being covered by Transpac. No matter the application, make sure your tools are covered on your next operation. Call 214-346-1512 x10 or email cwebb@transpacmgrs.com for more information on our limits and for a free quote before you send your equipment downhole.
We've Got You Covered
Have you made your list?
Transpac Managers, Ic. Has seen many types of downhole claims. What are the most common?
When drilling a well, SH@! happens
Are you performing pipeline inline inspection operations and what to ensure that your tools are covered in the event of a loss?
Drilling Losses are Becoming More Frequent
If you are an operator with an active drilling program and want to ensure all your wells are covered from the costs and hassles of downhole tool losses, Transpac Managers is offering an express program for either 100% or 50% coverage. It's easy to apply and most wells are approved within 24 hours. A deposit is only required for the first well. first well No matter the application, make sure your tools are covered on your next operation. Call 214-346-1512 x10 or email cwebb@transpacmgrs.com for more information on our limits and for a free quote before you send your equipment downhole.
Transpac Managers' Downhole Tool Insurance is available to help ensure a lost-in-hole event doesn't blow your entire budget. On average, a well costs between $6M and $9M to complete in the Permian Basin: - Drilling costs account for approx. 30% (between $1.8M to $3M) - One Downhole Tool loss of $1.5 million could use up almost your entire drilling budget No matter the application, make sure your tools are covered on your next operation. Call 214-346-1512 x10 or email cwebb@transpacmgrs.com for more information on our limits and for a free quote before you send your equipment downhole.
The Transpac Managers team is consistently asked why companies need Downhole Tool Insurance. Check our four key reasons and let us know if you purchase insurance for different reasons. - Lost tools, due to sticking, are not insured under most Commercial Insurance Programs - LIH losses can have a more dramatic economic effect on smaller drilling programs - BHA replacement costs are rising and even if contractors reduce exposure by 50%, you still have significant LIH exposure - Your drilling, wireline, coiled tubing, and fishing tools can all be covered under one policy No matter the application, make sure your tools are covered on your next operation. Call 214-346-1512 x10 or email cwebb@transpacmgrs.com for more information on our limits and for a free quote before you send your equipment downhole.
Did you know that you can secure downhole fishing coverage from Transpac Managers to further protect your assets and reduce risks? With this insurance, your incurred costs when retaining a third-party fishing company’s services to retrieve or free stuck downhole tools will be covered. This is only available for well sections where BHAs/equipment are being covered by Transpac. No matter the application, make sure your tools are covered on your next operation. Call 214-346-1512 x10 or email cwebb@transpacmgrs.com for more information on our limits and for a free quote before you send your equipment downhole.
Contact
214.346.1512
service@transpacmgrs.com