Who Owns Cactus Drilling

Josh Simons is the president and chief executive officer of Cactus Drilling Company, LLC.

The purchaser of Cactus Drilling.

The largest privately owned domestic drilling company in the US is Cactus Drilling. Customers anticipate high-quality tools and achievement focused on results. We’re secure. We defend the natural world. Our staff members are knowledgeable, trustworthy, and skilled. The most important question to ask when reading about the history of Cactus is, “How did we get here?

This question can only be logically addressed by a single historical source. Jim Willis is his name.

Jim was waiting for us at his property in Ketchum, Oklahoma. He travels back in time more than forty years when he looks out of the windows at the back of his home and sees Grand Lake O’ the Cherokees. The biography of the man who began it all is the place to start if you want to learn the true story of cactus drilling.

The Jim Willis Story Jim was raised in Auxvasse, Missouri, and attended a small public school in Mexico, Missouri, which is located just to the north of his small town. He majored in chemical engineering while attending the University of Missouri, but was hospitalized at the conclusion of his second year due to an accident. He left school out of discouragement. He returned to school after four years of operating a semi-truck, this time concentrating in accounting.

Jim supported his expanding family while going to school by driving a semi for 12 hours every night, three evenings a week. He was unable to decline the offer of employment from the accounting company Arthur Young (now Ernst & Young).

Jim reported that Arthur Young chased me several times. “I finally made the decision to work for them, but with one stipulation. My family had to be relocated from Missouri to Oklahoma. I couldn’t have moved if it hadn’t been for that. My belongings were in storage because I was unable to pay the storage charge. They agreed after I said I wouldn’t tell anyone. I arrived in Tulsa in early 1965 in this manner.

Jim spent several years as a management consultant at Arthur Young after working as an auditor there. A coworker told me in 1970 that Robert Hefner was seeking for a finance officer in Oklahoma City. Jim accompanied the coworker because he assumed he needs assistance offering guidance on recruiting.

Hefner called me one day and asked me to come over and discuss the position, Jim recalled.

I believed he wanted to make his intentions more clear. Instead, he made me the job offer. At Arthur Young, I was on the fast track and had no interest.

Hefner questioned what it would take to persuade him to quit, which piqued Jim’s attention.

“I told him I wanted a car and $30,000. I was employed when he called his partner. I fought creditors for The GHK Company for seven years. It was trying.

Hefner, an explorer, used seismic to look for “bright spots” where he wished to drill. Hefner suggested four additional wells after his initial proposal was successful, but there were no money available to drill them. Jim immediately resigned because he was sick of dealing with creditors and being broke.

Jim remembered, “At some point one of George Kaiser’s lieutenants had asked me to work for their little oil company.

I spoke with them, sealed the deal, and had lunch with Kaiser to celebrate. We had a meal there.

Jim said that since he had no specified tasks, he just performed as Kaiser instructed him.

Jim added, “I started working for Kaiser-Francis in 1977. “I lacked an office. Together with a secretary, an auditor, and part-time help, I shared a small conference room. We had one phone and no filing cabinet. Simply place your belongings in a corner.

The Cactus’s Story In his time with Kaiser-Francis, Jim contributed to the acquisition of oil and gas properties. They acquired Pilgrim Drilling in 1981, which contained two rigs. There was no reason to operate only two rigs during the boom years. Therefore, the corporation invested in two brand-new, substantial SCR rigs.

We installed our new rigs in time for the 1982 bust, stated Jim. ” The construction of Pilgrim #3 (an Ideco 2100E) cost us $6 million. As businesses started to fail, we started to buy. We paid $1,000,000 for another Ideco 2100E. We believed we had a home run! We were entirely mistaken. For context, we paid $240,000 for a bigger, better Ideco 2100E that had only drilled one well in 1986. The bottom was there.

Kaiser bought Cactus Drilling in 1989. At the time, the 20-rig company was inert and stayed so. Jim was also getting a lot of equipment for pennies on the dollar and trying to sell it for a profit in the meanwhile.

After ten years, Kaiser made the decision to stop selling equipment and start restoring rigs in order to run a drilling business.

Jim thought the name Cactus would make a suitable choice for a drilling business. “I knew that was good because they had been around for a very long time. I didn’t know anything about rigging up because I’m an accountant, so I picked it all up through osmosis. I read reference books and catalogs of composites. And most crucially, I worked with Ron Tyson, who I hired.

Jim remarked, “I knew Ron was capable. ” At the time, I was unaware of Ron’s remarkable interpersonal skills. Ron pointed out to me that while having good drilling rigs is crucial, our business is managing people who also happen to operate drilling rigs. That is a wise way of thinking. And it is accurate. It has helped Cactus operate profitably for years.

In his 76th year, Jim. Three years ago, he “retired, but he still advises for the corporation.

He said, “I feel like Cactus is mine. “We’ve experienced ups and downs, but our industry is cyclical. The current state of business won’t last forever. Everyone is aware of that. But it’s funny how quickly people forget it. Although I’m extremely happy of what we’ve accomplished, I’m even more proud of the outstanding Cactus employees who have chosen to make this their profession. The iron is not the issue. The individuals are the focus.

Cactus flourishes because of a history of sound business

CACTUS DRILLING LLC is a strong, active, and established business today. It is really no surprise that the company expanded to become the largest privately held land driller in the United States; it did so because of the ethical business principles that it was founded on.

Cactus Drilling was first developed in the 1980s. Before its assets were sold in 2002, it ran for a while. The company’s current iteration first appeared the following year. Additionally, the focal point of both iterations of Cactus Drilling was Jim Willis, a mainstay with Kaiser-Francis Oil Company.

Tyson said that Willis, who retired last year, was a brilliant businessman. Even as he was selling the initial version, he could see the potential for this fledgling business. That was a wise commercial decision. However, Willis refused to sign a non-compete agreement and kept using the business name.

“Almost immediately after Tyson was hired by Willis in January 2000, we got back to work. Later, Tyson assisted Willis in growing the reprised Cactus.” On Day 1, we had no employees; as of today, we have over 1,400 workers and 56 rigs.

By purchasing stacked rigs and rig parts, repairing them, and deploying them in the field, the Willis-Tyson team achieved immediate success.

“Hours would pass as we drove across the countryside inspecting gear and imagining rigs. The rigs would then succeed on paper. The next thing you know, Tyson continued, we’ll be making them. ” Making decisions didn’t take us very long. That was extremely helpful.

Numbers 101 through 135 of the first 34 rigs were renovated. (Since the number 13 is considered unlucky, there was no Rig 113.) Cactus then left.

, and moving. The amount of workers needed to run a rig in the field, which is 22 people, increased the size of the Cactus staff base with each new rig.

Rig 136 elevated Cactus to a new level. It was the first new-build rig for the business. With the invention of the Cactus Rocket Rig, the firm shot to the top of the domestic land drilling field—not as one of the industry’s titans, but as one of its best and most reputable competitors.

“It happened quickly. Also enjoyable, Tyson remarked. “Jim cherished this business and still does. His commitment to erecting a new corporate headquarters indicated that he was thinking long term and that we were here for the long haul.

“We are still expanding, Tyson continued. “But we’re progressing at our own rate. We won’t pursue expansion just for the sake of pushing growth and wind up being overextended. We keep an eye on the marketplace. We expand as the market tells us there is a demand for these rigs. That currently equates to one rig every quarter.

The future at Cactus appears secure because the company was founded on sound values and practices in the past. Willis paved the way for the business’s sustainable expansion, which is based on realistic market possibilities rather than flashy, dramatic, and short-term growth gained through overreaching.

Describe the rig fleet.

The term “rig fleet equipment” refers to the rigs owned by the Borrowers, any partial rigs, and, to the extent permitted by the Administrative Agent, yard inventories and other related equipment (as categorized in the FLV Appraisal).

How many people work for Cactus Wellhead?

The corporate headquarters of Cactus Wellhead are in Houston, Texas, at 920 Memorial City Way, Suite 300, and it employs 666 people. cactus, inc. company cactus

Who owns the biggest drilling firm?

Ensco Rowan, an offshore drilling contractor based in the UK, reported a 7.48 percent decline in revenue from 2017 to 2018, and changed their name to Valaris in July 2019.

In April 2019, Ensco and Rowan, two offshore drilling firms, merged to form the business. 73 drilling rigs, comprising 45 jack-ups, 16 drillships, and 12 semi-submersibles, are now in use by Ensco Rowan throughout six continents.

Ensco delivered drilling rigs for the Zama and Big Foot oil fields, as well as the North Sea’s Clipper South and Tolmount gas fields.

Is Cactus Drilling a desirable employer?

a good place to work. The majority of bosses genuinely care about you and your family time. It pays well. Good tools are accessible, and there is nice equipment.

How many oil rigs are there at Patterson UTI?

Patterson-UTI Energy, Inc. (NASDAQ: PTEN), a leader in onshore U.S. drilling, announced Tuesday that it will increase its domestic fleet of 150 rigs by 16 super-spec drilling rigs.

Through its upcoming $295 million acquisition of Pioneer Energy Services Corp. (OTCPK: PESXQ), which it announced Tuesday, Patterson-UTI will add the land rigs to its fleet.

In a letter sent to Rigzone, Patterson-UTI CEO Andy Hendricks said, “As a premier provider of contract drilling services in the United States, we are happy to announce this transaction. ” Our company will benefit greatly from the high-quality fleet of 17 drilling rigs owned by Pioneer in the United States, 16 of which are super-spec. Many of these rigs can also switch out diesel for cleaner-burning natural gas, which is a technology that is becoming more and more crucial to operators for lowering emissions.

The acquisition agreement, according to Patterson-UTI, will pay off all of Pioneer’s debt. It also noted that the agreement called for a $30 million cash payment as well as the issuance of up to 26,275,000 shares of Patterson-UTI common stock. With the addition of eight pad-capable rigs in Colombia, the transaction will increase Patterson-fleet UTI’s of U.S. super-spec rigs to 166 units, with nearly half of them being able to run on alternative energy sources. Patterson-UTI also noted that this will increase the company’s geographic reach internationally.

Hendricks emphasized that Pioneer has been operating in Colombia for 14 years with a skilled operations staff and a solid foundation.

Hendricks said, “I want to thank the Pioneer staff for their dedication to building such a beautiful firm with outstanding performance for their clients, and I am looking forward to welcoming the Pioneer employees to the Patterson-UTI family.

The boards of Patterson-UTI and Pioneer have unanimously authorized the acquisition, according to Patterson-UTI, which also indicated that it has reached a consensus with investors who account for around 88 percent of Pioneer’s outstanding voting power to support the transaction.

In addition, Pioneer Energy Services has a Gulf Coast-based 123-service-rig well service company, which Patterson-UTI intends to sell after the transaction.

According to Patterson-UTI, the deal will likely close in the fourth quarter of this year, though regulatory and Pioneer Energy Services stockholder approvals are still pending.

The number of rigs that Transocean owns is

Due to the company’s unrivaled experience, we are able to satisfy the geographic and technological requirements of our customers in some of the most difficult offshore situations. 27 ultra-deepwater floaters and 10 harsh environment floaters make up Transocean’s fleet of 37 movable offshore drilling units, which it owns entirely or in part. Transocean is also building two drillships for ultra-deep waters.

The location of Maersk Drilling Company.

The Danish Underground Consortium (“DUC”), founded in 1962 by Maersk, Shell, and Gulf to utilize the resources in a specific area of the Danish part of the North Sea, is where Maersk Drilling’s beginnings may be found. By 1972, DUC produced first oil in the Danish part of the North Sea, and later that year, the Maersk Storm Drilling Company was established in a joint venture with Dearborn-Storm Drilling Company and underpinned by two semi-submersibles named Zephyr I and Zephyr II. These rigs were owned by Maersk Drilling but operated by Storm Drilling. An overview of some of Maersk Drilling’s significant historical periods and associated landmarks is given below:

to 1989: Inception, building of capabilities, entrance into Egypt and shallow water fleet expansion

In order to further understanding of drilling technology, including the training of Maersk Drilling personnel in the U.S. state of Louisiana, Maersk Drilling founded the Atlantic Pacific Marine Corporation (“APMC”) in the United States. The jack-up Maersk Explorer, at the time the largest jack-up rig in the world, was built in response to this and completed in 1975.

Following the purchase of the Maersk Explorer, Maersk Drilling went on to order five additional drilling rigs, including two jack-ups, a semi-submersible floater, a drilling tender, and a so-called self-contained platform rig. Maersk Drilling established its headquarters and operations center in Copenhagen throughout the construction of these units, while APMC continued as a drilling firm with a U.S. base and served as a training facility for the crews of the new rigs.

The Egyptian Drilling Company was founded in 1976 as a 50/50 joint venture between Maersk Drilling and the Egyptian General Petroleum Corporation. The joint venture was established and ran successfully for more than 40 years until Maersk Drilling sold its 50% stake in EDC to the Egyptian General Petroleum Corporation in December 2017.

Maersk Drilling completed a second significant Newbuilding program between 1978 and 1986. Maersk Giant and Maersk Guardian, two of these rigs, were designed to operate in the North Sea’s 394-foot-deep waters and hostile surroundings.

to 2004: Founding of Norwegian market, entrance into Venezuela and shallow water fleet expansion

With the help of Maersk Guardian, which was employed by Phillips Petroleum Company, Maersk Drilling laid the groundwork for the jack-up drilling business in Norway in 1990. This signaled the start of a new age for the NCS, which had hitherto been primarily explored and developed by platform rigs and semi-submersible rigs. For many oil and gas projects in the area, the introduction of jack-up rigs to the market proved to be the most practical choice in terms of mobility and cost.

Maersk Drilling expanded its geographic reach in 1993 and started drilling for Petrleos de Venezuela, S.A. in Venezuela (PdVSA). The activities included owning and operating ten cantilevered offshore drilling barges on Lake Maracaibo. They were registered in the business Maritime Contractors Venezuela S.A. (MCVSA). In 2014, the barge business was sold.

For the Norwegian Yme field in 1996, the Maersk Giant served as both a drilling rig and a production unit, an innovative method that Maersk Drilling reproduced with additional rigs in the years that followed. Maersk Giant’s sale was announced in November 2018; the deal is anticipated to finalize in 2019. Starting with the jack-up Maersk Gallant’s arrival in 1993, an additional three jack-up rigs and one floater rig were ordered and subsequently delivered between 1993 and 2004.

The semi-submersible Maersk Explorer was delivered in 2003, and the jack-up rigs Maersk Innovator and Maersk Inspirer were delivered in 2003 and 2004, respectively. The Maersk Explorer represents an expansion of Maersk Drilling’s operations in the floater industry and was built in Baku, Azerbaijan for use in the Caspian Sea.

to 2010: Entrance into deepwater and introduction of Service Delivery Model

Six jack-up rigs were added to Maersk Drilling’s fleet between 2007 and 2009, four of which were designed for use in the North Sea’s challenging conditions. This further strengthened Maersk Drilling’s position in the jack-up segment.

By managing two semi-submersible rigs for China Oilfield Services (COSL) beginning in 2007, Maersk Drilling increased its capacity for midwater drilling; operations were mostly carried out offshore Australia and New Zealand on behalf of independent E&P Companies.

Following the delivery of Maersk Developer, the first of three 6G semi-submersible rigs from Maersk Drilling, in 2008, Maersk Deliverer and Maersk Discoverer were later delivered in 2009 and 2010, respectively. Maersk Drilling was able to assist E&P Companies in all benign-environment midwater and deepwater zones across the world with these semi-submersible rigs.

In order to interact with its clients and guarantee that it consistently contributes to the safe and effective drilling of wells, Maersk Drilling created a service delivery model in 2009. This model calls for proactive and planned actions that go above and beyond what is typically expected in the industry.

to 2018: Shallow water and deepwater fleet expansion and business model innovation

Utilizing its newly acquired deepwater drilling expertise, Maersk Drilling placed an order for four Newbuilding 7G drillships in 2011. Maersk Venturer, Maersk Viking, Maersk Valiant, and Maersk Voyager were subsequently delivered in 2014 and 2015, respectively.

To accommodate the enormous growth in its organization, Maersk Drilling moved to a new location in Lyngby, Denmark, in 2014. Four Newbuilding XL Enhanced (“XLE”) jack-up rigs that were ordered in 2011, 2012, and 2013 were delivered between 2014 and 2016: the Maersk Intrepid, Maersk Interceptor, Maersk Integrator, and Maersk Invincible. The XLE rigs can operate year-round in all regions of the North Sea and include upgraded features to increase efficiency, safety, and logistics on board.

The Newbuilding Maersk Highlander, a North Sea jack-up rig, was purchased by Maersk Drilling for $190 million in May 2016. Upon delivery, the rig began a five-year contract with Maersk Oil (now controlled by Total), which began in the third quarter of 2016.

In order to improve collaboration efficiency and enable process standardization and simplification, Maersk Drilling entered into a five-year alliance arrangement with AkerBP and Halliburton in November 2017. The goal was to reduce the lead time from discovery to first oil.