The IADC Contracts & Risk Management Conference & Exhibition took place in Houston, Texas from 8-9 October. Over two days, esteemed subject matter experts and young professionals came together to discuss:
- Automated Well Control Risk and Cost Reduction
- The Reliability of Limitations and Exclusions
- Rig Importation Responsibility in Drilling Contracts
- Indemnities in Contracts
- Artificial Intelligence in the Practice of Law
- Risks and Issues under Long(er) Term Drilling Contracts
- And much more!
The keynote presentation on “Global Supply Chain Issues” was delivered by Margaret Kidd, Professor in the Cullen College of Engineering at the University of Houston.
Drilling Contractor Interview from the IADC Contracts & Risk Management Conference
As the offshore drilling market continues its recovery from the post-COVID downturn, drillers must be aware of the risks and pitfalls they may face while executing longer-term contracts that were signed in a weaker market. Glenn Kangisser, Partner at Haynes and Boone, discussed some of those risks in this interview with DC, taken at the 2024 IADC Contracts and Risk Management Conference in Houston on 9 October.
In particular, he spoke about how current contracts now burden drilling contractors with onerous performance clauses, limited mutual indemnities and difficulties in recovering increased costs. He also discussed the importance of clauses for non-payment remedies and interest on late payments, stressing the importance of putting mechanisms in contracts that allow contractors to recover increased costs due to changes in law or the location of operations.
Thank you to everyone who participated in this event, including presenters, attendees, sponsors, and the planning committee!
