Scandrill Inc. Company Profile

Background

Overview

Scandrill Inc. is a land-based drilling contractor specializing in providing land contract drilling services to independent and major oil and gas exploration companies. Established in 1977, the company has built a reputation for delivering efficient and reliable drilling solutions across various regions. Headquartered in Houston, Texas, Scandrill operates with a fleet of 31 high-specification rigs, primarily the Norseman Series™, in the Ark-La-Tex, Oklahoma, and Permian Basin areas, including the Midland and Delaware Basins of West Texas and New Mexico.

Mission and Vision

Scandrill's mission is to provide safe, efficient, and environmentally responsible drilling services that meet the evolving needs of the oil and gas industry. The company's vision is to be the drilling contractor of choice, recognized for operational excellence, technological innovation, and a commitment to sustainability.

Industry Significance

With over four decades of experience, Scandrill holds a significant position in the drilling industry, particularly in the Permian Basin, a key area for oil and gas production. The company's focus on high-specification rigs and advanced technologies has enabled it to meet complex drilling requirements, contributing to the efficiency and success of its clients' operations.

Key Strategic Focus

Core Objectives

Operational Excellence: Continuously improving drilling performance to enhance efficiency and reduce non-productive time (NPT).

Technological Innovation: Integrating advanced technologies to optimize drilling processes and maintain a competitive edge.

Safety and Environmental Responsibility: Upholding the highest safety standards and minimizing environmental impact in all operations.

Areas of Specialization

High-Specification Drilling Rigs: Operating a fleet of 31 Norseman Series™ rigs designed for complex drilling operations.

Multi-Well Pad Drilling: Expertise in drilling multiple wells from single locations to enhance operational efficiency.

Long Lateral Drilling: Capability to drill extended horizontal sections to access broader reservoir areas.

Key Technologies Utilized

Automated Drilling Systems: Implementing advanced automation to improve drilling precision and reduce human error.

Energy-Efficient Equipment: Utilizing hybrid rigs with dual fuel gas and diesel engines, along with renewable-friendly battery storage systems, to reduce environmental impact.

Real-Time Data Analytics: Partnering with technology providers to deploy real-time AI drilling intelligence across the fleet, aiming to reduce cost per foot and drive fleet-wide performance improvements.

Primary Markets and Conditions Targeted

Permian Basin: Focusing on the Midland and Delaware Basins in West Texas and New Mexico.

Ark-La-Tex Region: Serving areas in Texas, Louisiana, and Arkansas.

Oklahoma: Providing drilling services in various oil and gas fields.

Financials and Funding

Funding History

As a privately held company, Scandrill Inc. has not publicly disclosed detailed funding history or financial statements. The company has grown organically over the years, reinvesting earnings into expanding and upgrading its rig fleet and operations.

Recent Developments

Merger Announcement (2019): In December 2019, Scandrill announced a merger with VYGR Holdings, LLC, which controlled drilling assets from SPN Well Services, Inc. and JDC Drilling Company, LLC. This merger expanded Scandrill's fleet to 31 land rigs, enhancing its service capabilities in Texas, Oklahoma, Louisiana, and New Mexico.

Pipeline Development

Key Pipeline Candidates

Scandrill's focus is on maintaining and enhancing its existing rig fleet rather than developing new pipeline projects. The company continually invests in upgrading its rigs to meet the evolving demands of the drilling industry.

Stages of Development

Fleet Expansion: Acquiring and integrating additional rigs to increase operational capacity.

Technological Upgrades: Implementing advanced technologies to improve drilling efficiency and safety.

Target Conditions

Deep Wells: Drilling wells with depths exceeding 30,000 feet.

High-Pressure Environments: Operating in conditions requiring specialized equipment and expertise.

Timelines for Anticipated Milestones

Specific timelines for future developments are not publicly disclosed. Scandrill focuses on continuous improvement and responds to market demands as they arise.

Technological Platform and Innovation

Proprietary Technologies

Norseman Series™ Rigs: A fleet of high-specification rigs designed for complex drilling operations, including multi-well pad drilling and long lateral drilling.

Hybrid "Green" Rig (SCAN LEGACY): A high-specification, energy-efficient rig capable of drilling wells in excess of 30,000 feet, utilizing dual fuel gas and diesel engines along with renewable-friendly battery storage systems.

Significant Scientific Methods

Automated Drilling Systems: Enhancing drilling precision and reducing human error through advanced automation technologies.

Real-Time Data Analytics: Utilizing AI-driven analytics to monitor and optimize drilling performance in real-time.

Leadership Team

Executive Profiles

Paul M. Mosvold: President and Chief Operating Officer. With extensive experience in the drilling industry, Paul has been instrumental in Scandrill's growth and operational excellence.

Torrey Mosvold: Senior Vice President. Torrey plays a key role in strategic planning and business development, contributing to the company's expansion and market presence.

Jeremy Eaton: Vice President of Operations. Jeremy oversees daily operations, ensuring efficiency and safety across all drilling projects.

Jeff Willis: Vice President of Finance. Jeff manages the company's financial strategies, supporting sustainable growth and investment in new technologies.

Key Contributions

Operational Excellence: The leadership team has fostered a culture of safety and continuous improvement, leading to reduced non-productive time and enhanced drilling performance.

Technological Innovation: Under their guidance, Scandrill has integrated advanced technologies, such as hybrid rigs and real-time data analytics, to maintain a competitive edge.

Competitor Profile

Market Insights and Dynamics

The drilling industry is characterized by fluctuating demand, technological advancements, and a strong emphasis on safety and environmental responsibility. Companies like Scandrill that invest in high-specification rigs and innovative technologies are well-positioned to meet the evolving needs of the oil and gas sector.

Competitor Analysis

Nabors Industries: A leading drilling contractor with a vast fleet and global operations.

Precision Drilling: Specializes in providing comprehensive drilling services with a focus on technological innovation.

Patterson-UTI Energy: Offers a range of drilling and pressure pumping services, emphasizing operational efficiency.

Strategic Collaborations and Partnerships

Scandrill has partnered with technology providers to enhance its drilling capabilities:

Corva Partnership: Collaborated to deploy real-time AI drilling intelligence across the fleet, aiming to reduce cost per foot and drive fleet-wide performance improvements.

Operational Insights

Scandrill's focus on high-specification rigs and technological innovation differentiates it from competitors. The company's commitment to safety and environmental responsibility further strengthens its market position.

Strategic Opportunities and Future Directions

Scandrill aims to continue expanding its rig fleet, integrating advanced technologies, and exploring new markets to sustain growth and meet the evolving demands of the drilling industry.