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Pipeline Inspection Tool Insurance
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What is pipeline inspection tool insurance?
Pipeline inspection tool insurance covers the replacement cost of scheduled tools while they are inside the pipeline during a pre-approved pipeline inspection. The tools can be covered for loss or damage while inline during an inspection. Our main loss event occurs when tools become stuck in the pipeline.
What types of tools are covered?
Below is a list of the most common types of tools that we cover. If you have a special need for a tool not listed, please contact us.
- Inline inspection tools
- Smart pigs
Who is eligible for coverage?
Coverage is available to anyone who owns tools or is contractually obligated to safeguard the tools while below the rotary. In most cases, the following parties are eligible:
- Pipeline operators
- Pipeline inspection contractors
- Tool rental companies
- Tool manufacturers
How do we charge?
We charge a single rate per pipeline inspection run.
- All rates on a per-run basis
- Multiple pipeline discounts are offered
- Special rate plans for inline inspection contractors
How are losses handled?
Losses are handled by claims adjusters specializing in the energy industry. This translates into quick turnaround times for you when it comes to proof of loss and payment. We know time is money, and unlike other contractors and insurance companies, we provide claim payments in days rather than months.
Will we be there when you need us?
We understand that drilling does not stop at 5 p.m. or on the weekends. We are available to assist you in getting coverage 24/7. Upon receiving a completed application, we can get a quote in your hands in less than 24 hours.
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.
For more than three decades, Transpac Managers has been dedicated to maintaining our position as the choice provider of Downhole Tool Insurance for operators, contractors, and agents. In addition to being a cover holder of Lloyds, the Transpac Managers team provides prompt and knowledgeable service and competitive pricing with the highest level of integrity. 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.
Are you starting up a new oil and gas services/technology business? Don't risk your entire capital expenditure losing tools downhole. 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 provide prompt and knowledgeable service and competitive pricing with the highest level of integrity.
Ever wonder where in the well most lost-in-hole events occur? Transpac Managers reviewed our last 15 claims, and determined that: - Three claims were submitted for losses from 0 to 5,000 ft - Five claims were submitted for losses between 5,001 and 10,000 ft - Five claims were submitted for losses between 10,001 and 15,000 ft - Two claims were submitted for losses over 15,000+ ft - One vertical; four build; 10 lateral 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 provide prompt and knowledgeable service and competitive pricing with the highest level of integrity.
Contact
214.346.1512
service@transpacmgrs.com