"It is normal oilfield practice for operators to have pretty much every aspect of the drilling and completion related equipment tested / QA'd both on the beach and offshore / at site."
This might be the case in some parts of the world but here in Australia I've only seen a few of the major operators carry out any sort of QA on tools before they reach the wellsite. From my experience, Woodside and Inpex often employed third party wireline QA consultants (eg Holger Lobotsky and associates) but for most operators any QA applied by the client starts when the tools arrived at the rig with any issues usually being flagged by The Wellsite Geologist.
When you've been in the job for 35 years you quickly learn the warning signs that tools haven't been through a full workshop service/check and calibrations. Out of date shop calibrations are the first early warning sign.
IVZ Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
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