IADC Contracts Committee
Mission Statement
To promote clarity and efficiency in commercial documentation within the global drilling community and foster a wider understanding of contracts and risk management.
The IADC Standard Equipment List has been developed to provide a comprehensive summary of all relevant items of equipment and to streamline the tender process for both contractor and operators.
The last edition of the equipment list was released in 1993. A Workgroup was formed in 2025 to review and revise the document. A final draft is now available for Member review and input. Key features of the revision are listed below.
We welcome you to review the document and offer your suggestions/edits/comments by email to contractscommittee@iadc.org.
The comment period will close on 14 August 2026.
Key Features of Revision
Introduction and Purpose
- The workbook simplifies fleet data organization, reduces manual work, and ensures consistency across rig sheets.
- It consolidates all rig information into a hierarchical, easy-to-navigate format.
Storage and Access
- Stored on OneDrive for shared access, version control, and macro support.
- Users can work locally with macros enabled for full functionality.
Navigation and Automation
- Features an interactive, expandable Table of Contents for easy navigation.
- Includes an “Add Rig” function that creates new sheets from a template, maintaining uniform structure.
Comparison and Conversion Tools
- Fleet Overview allows side-by-side comparison of selected rigs.
- Built-in unit converters support common measurements, always visible during data entry.
Standardization and Security
- All sheets follow a uniform template, allowing flexible addition/removal of equipment.
- Worksheet protection with passwords controls editing rights, safeguarding data integrity.
Officers
Chair
Tyler Smith, Nabors
Vice Chairman, Land
Tom Bowes, Precision Drilling
Vice Chairman, Offshore
John Kilburn, Transocean
Vice Chairman, Industry Outreach
TBD
Staff Liaison
Mike DuBose, IADC
Join the Committee
Please contact the IADC Contracts Committee.
Meetings are open to IADC members.
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Committee Structure
A member appointed by the Chairman of IADC will chair the IADC Contracts Committee. The Committee Chairman may at his discretion appoint a reasonable number of Committee Vice-Chairmen to oversee specific disciplines or issues (e.g., onshore/offshore safety issues, environmental practices, specific regulatory issues, etc.)
General meetings are open to participants from all categories of IADC membership. The Chairman may invite non-members to attend when it furthers the interests of the Committee. At the discretion of the Chairman and IADC staff, the meeting or portions of the meeting may be exclusively reserved for drilling contractor members. Meetings will be held at such times and locations as may be selected by the Chairman with the advice of the Committee.
IADC Committee activities are governed by IADC’s Antitrust Policy and Guidelines. IADC Technical Committee meetings are not open to the Press.
Meeting Minutes
Meeting Schedule
| Date | Function | Location |
|---|---|---|
| 30 July 2026 | General Committee Meeting | Transocean |
Committee Meetings Policy
General meetings are open to participants from all categories of IADC membership. The Chairman may invite non-members to attend when it furthers the interests of the Committee. At the discretion of the Chairman and IADC staff, the meeting or portions of the meeting may be exclusively reserved for drilling contractor members. Meetings will be held at such times and locations as may be selected by the Chairman with the advice of the Committee.
All dates and times are subject to change.
Resources & Links
This page contains lists of all available resources, documents, videos for the Contracts Committee. These may include best practices, guidelines, and/or special reports, as well as documents on topics such as onshore/offshore safety issues, environmental practices, specific regulatory issues and more. Also included is a section for links to useful websites.
Resources
Useful Links
| Resource | Type | Resource Link |
|---|---|---|
| Purchase IADC Contracts | IADC Online Bookstore | Link |
IADC provides web links as a member service. IADC does not warranty or endorse the accuracy or reliability of any of the information, content, or advertisements contained on websites linked to www.iadc.org or any of its subsidiary pages.
Committee Initiatives
- Complete and release the “Interim IADC Standard Floating Rig Equipment List”.
- Update IADC Model Contracts with new Copyrights and Logos, if applicable and within budgetary restraints.
- Release interim “IADC Land Equipment List Short Version”.
