A well that has been drilled but is awaiting completion work such as fracturing, perforating, or production tie-in. Operators stockpile DUCs when commodity prices are low, then activate them when prices recover. For subcontractors, a large DUC inventory signals upcoming bursts of completion and surface work.
DUC (Drilled-but-uncompleted Well)
Related Terms
CNG (Compressed Natural Gas)
IndustryNatural gas compressed and stored at high pressure, used to fuel fleet vehicles and equipment on remote job sites. Subcontractors may need CNG-certified technicians and compliant fuelling procedures when working on CNG infrastructure projects or operating CNG-powered equipment.
Competitive Tender
IndustryA formal process where a client or prime contractor solicits bids from multiple subcontractors for a defined scope of work. Subcontractors submit priced proposals and are evaluated on cost, capability, and safety record. Winning a competitive tender typically requires balancing competitive pricing against maintaining viable margins.
Battery Tolling Agreement
IndustryA contract where a subcontractor operates a battery energy storage system on behalf of an asset owner, earning a fee without owning the asset. Common on remote sites and camps where third-party power management services are contracted out. Subcontractors are paid for capacity and availability, not energy consumed.
Lease Sale
IndustryA government auction where energy companies bid for the right to explore and develop specific land or offshore blocks. Winning bids signal upcoming exploration activity, which often leads to new work opportunities for field service subcontractors. Tracking lease sales helps companies anticipate demand and position crews and equipment accordingly.
Ultra-Deepwater
IndustryOffshore drilling operations conducted in water depths exceeding 1,500 metres. Subcontractors working these projects require specialised certifications, equipment ratings, and offshore survival training. Mobilisation costs and logistics complexity are significantly higher than shallow-water scopes.
Rig Utilization
IndustryThe percentage of time a rig is actively working versus sitting idle. For subcontractors, high rig utilisation means steady billable hours and predictable revenue. Low utilisation signals contract gaps that strain cash flow and crew retention.
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