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Industry Glossary Term

High-Intensity Drilling

A drilling programme where rigs operate continuously at accelerated rates to maximise footage drilled in minimal time. Subcontractors face compressed mobilisation windows, higher equipment wear, and rapid crew rotation demands. Billing cycles and material supply chains must keep pace with the accelerated schedule.

Related Terms

OFS (Oilfield Field Services)

Industry

The sector of companies and subcontractors that provide specialised labour, equipment, and technical services to oil and gas operators. This includes drilling, completions, maintenance, and production support work. Most field subcontractors operate within the OFS sector, working under Tier 1 service companies or directly for operators.

Upstream Tie-in

Industry

A connection point where new pipeline or equipment is integrated into an existing live system closer to the wellhead or source. For subcontractors, this work typically requires strict hot-work permits and precise scheduling around production shutdowns. Delays at tie-in points directly impact your crew's standby time and invoice milestones.

Radial Conveyor

Industry

A belt conveyor mounted on a wheeled chassis that pivots in an arc to distribute bulk materials across a wide stockpile area. Subcontractors use them on aggregate, sand, and gravel sites to manage material placement without constant repositioning. They reduce manual labour and speed up site operations significantly.

LOI (Letter of Intent)

Industry

A written commitment from a client indicating they plan to award a subcontractor a contract. It allows work or mobilisation to begin before the formal contract is signed. LOIs are not always legally binding, so subcontractors should clarify payment obligations before proceeding.

Npv10 (net Present Value At 10% Discount Rate)

Industry

A method operators use to value oil and gas reserves by discounting future cash flows at 10% annually. Higher NPV10 signals a healthier client who can fund long-term projects and honour contracts. Subcontractors can use it to gauge whether a prospect client's asset base justifies pursuing work with them.

Sequencing (construction)

Industry

The planned order in which construction tasks must be completed before the next trade can begin work. Subcontractors depend on accurate sequencing to schedule crews and avoid costly downtime. Delays in one phase can push back your mobilisation and affect your invoicing schedule.

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