Investment for Offshore Rig

Offshore drilling is a technology-heavy industry, and if you want to invest in companies that work in this space of goods, you want to be familiar with the associated terminology.

Since offshore drilling can take place in unforgiving places, companies need to implement specific boats for specific drilling projects. These ships are among the most technologically advanced man-made structures. Some ships are designed to withstand strong winds and high waves. Others are more suitable for exploratory projects in shallow waters and need to move from one place to another quickly.

Here are the names of some of these pots you can expect to come across as you start investing in offshore drilling companies:

• Barge drilling: The drilling barge is one of the most agile vessels on the market. It is a floating device usually towed by a tug to hit puncture positions. The drilling barge is mainly used in the inland, still shallow waters, such as rivers, lakes and swamps.
• Jack-up rig: The rig jack-up is a hybrid vessel that is part floating barge, part drilling platform. The jack-up drilling rig is towed to the desired position, usually open, shallow waters where its three "legs" are lowered and "jacked" towards the seabed. When the legs are fixed, the drilling platform is raised to the desired levels to allow for safe drilling.
• Submarine Rig: The submersible rig is similar to the rig jack-up, as it is mainly used for shallow water drilling and is fixed to the bottom of the sea.
• Semi-submersible plant: sometimes referred to as a seed, this structure is a stunt of modern technological development. It's like a submersible, except that it has the ability to pierce deep in adverse weather conditions and not forgive. 
• The drilling platform is high and sits on top of a floating structure that is semi-submerged in water (hence the name) and secured by large dowels that can weigh up to 10 tons each.
• Drill Ship: The drilling vessel is essentially a ship with a drilling deck. It is perhaps the most versatile drilling tool as it can easily be sent to remote offshore locations, including deepwater drilling.
• Offshore Oil Platform: When one of the previous vessels discovers a commercially viable offshore oilfield, a company may decide to build a permanent platform to exploit this discovery. Insert the offshore oil platform. These facilities are a spectacle to see and are really from the floating city man. They are staffed, they include homes, and are often equipped with shelter. They are ideal for difficult conditions in deep waters.

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CONVENTIONAL OIL

Definition Oil is a hydrocarbon formed over thousands of years from the decomposition of dead plants and organisms. Intense heat and pressure on this material triggers a reaction, which leads to the creation of oil

Conventional oil is a term used to describe oil that can be produced (extracted from the ground) using traditional drilling methods.  It is liquid at atmospheric temperature and pressure conditions, and therefore flows without additional stimulation.  This is opposed to unconventional oil, which requires advanced production methods due to its geologic formations and/or is heavy and does not flow on its own. 

You may have heard of these terms used to distinguish different types of oil:

​Light vs. Heavy - this refers to the density of oil and its ability to flow.  Lighter oil can be refined with minimal processing due to higher fractions of light hydrocarbons.

Sweet vs. Sour - this refers to the sulphur content of the oil, sulphur must be removed prior to refining.  When oil has sulphur greater than 0.5% it is referred to as "sour."

Because of these variations, oil quality is a spectrum and the distinction between conventional and unconventional is not always black and white. Generally, however, if traditional drilling techniques are used in the oil production it is considered conventional regardless of its physical properties.

Conventional oil is produced using drilling technologies that utilize the natural pressure of an underground reservoir.  Production of a conventional oil well has four main phases[2]:

Exploration: Geological exploration is a series of technologies that are used by geologists and geophysicists to predict the location and extent of underground oil reservoirs.

Drilling: Once a reservoir has been located with sufficient certainty, a drilling rig is used to bore a hole from the surface to the oil reservoir.  Piping is then inserted, allowing the oil to be brought to the surface.  Some of the oil in the reservoir will be produced using the natural pressure of the reservoir.  

Pumping: Gradually the pressure of the well will decrease as oil is produced. At this point a pump will be connected to allow the remaining oil to be extracted.

Abandoning: After all the economically viable oil has been extracted from the well, the well is filled with cement to prevent any hydrocarbons from escaping and a special cap is placed over it to protect the area[3].

Context

Conventional oil tends to be less expensive and complex to extract than unconventional oil due to the routine nature of the production techniques.  This oil is also the most valuable in global markets because it requires the smallest amount of processing prior to refining to create value-added products. Consequently, many of our global conventional oil supplies have already been extracted, limiting the availability of these source for future extraction[2].

Generally, drilling and well abandonment are well-understood and regulated processes but there are always risks with such industrial operations. In drilling, pressure must be regulated carefully to avoid accidents and immediate environmental impacts like land disturbance must be carefully monitored.  After abandonment, well leaks can occur if improper procedures were taken.  

As with all fossil fuel production, there are also concerns with greenhouse gas emissions from their combustion 

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Drilling Rigs Type

There are many different types of drilling rigs. Which rig selected depends on the specific requirements of each drill site. Roll your mouse over each picture to see what kind of rig it is.Its a good for drilling knowledge

Land Based Drilling Rigs - The land-based drilling rig is the most common type used for exploration. This site is using a conventional, land-based drilling rig that is smaller and more efficient than those used in the past.

Slim Hole Drilling Rig - A conventional drill bore might be 18 inches in diameter; a slimhole bore can be as little as 6 inches. A slimhole well drilled to 14,760 feet may produce one-third the amount of rock cuttings generated by a standard well. The size of the drill site can be as much as 75 percent smaller, since slimhole equipment requires less space than conventional equipment. However, slimhole drilling is not technically feasible in all environments.

Coiled Tubing Drill Rig - Conventional wells are drilled using sections of rigid pipe to form the drill string. In some cases, coiled tubing technology can replace the typical drill string with a continuous length of pipe stored on a large spool. This approach has many benefits, including reduced drilling waste and minimized equipment footprints, so it is especially useful in environmentally sensitive areas. This technology is best suited to re-entering existing wells, and when multiple casing wells are unnecessary.

Jackup Drill Rigs – These rigs may be used in relatively shallow water -- less than 300 feet deep. A jackup rig is a floating barge containing the drilling structure that is outfitted with long support legs that can be raised or lowered independently of each other. The jackup, as it is known informally, is towed onto location with its legs up and the barge section floating on the water. Once at the drilling location, the legs are jacked down onto the seafloor, and then all three legs are jacked further down. Since the legs will not penetrate the seafloor, continued jacking down of the legs raises the jacking mechanism attached to the barge and drilling package, and slowly lifts the entire barge and drilling structure to a predetermined height above the water. These rigs are extremely strong, since they have to withstand ocean storms and high waves. These rigs are moved by simply by moving the legs up and down, which makes them cost-effective and easily shifted out of harm's way during storms.

Semi-Submersible Rigs – Drilling in water deeper than 300 feet demands some kind of floating platform to hold the rig. Semi-submersible rigs are floating vessels supported on large pontoon-like structures that are submerged below the sea surface. As with jackup rigs, the operating decks are elevated as much as 100 or more feet above the pontoons on large steel columns. This design has the advantage of submerging most of the area of components in contact with the sea and minimizing loading from waves and wind. Semisubmersibles can operate in a wide range of water depths, including deep water. Semi-submersibles can either be attached to the ocean bottom using strong chains and wire cables or may utilize dynamic positioning to remain stationary during drilling without anchors.

Drill Ship - For exploration targets farther offshore, specially designed rigs mounted on ships can drill a well in water depths up to 10,000 feet. These rigs float and can be attached to the ocean bottom using traditional mooring and anchoring systems, or utilize dynamic positioning to remain stationary during drilling without anchors.

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