MLchartDataset catalogue

Day rate

Term · Oil and gas · MLC-T-OAG-000959

A common contractual payment structure in the drilling industry where the drilling contractor is paid a fixed amount per day for the use of the rig and its crew. This rate is independent of the footage drilled or the amount of oil or gas produced. Day rates are typically negotiated based on rig specifications and market conditions.

Table 1. Record
IdentifierMLC-T-OAG-000959
FieldOil and gas
SubjectDrilling
Record as JSON 
{
  "id": "MLC-T-OAG-000959",
  "term": "Day rate",
  "field": "Oil and gas",
  "definition": "A common contractual payment structure in the drilling industry where the drilling contractor is paid a fixed amount per day for the use of the rig and its crew. This rate is independent of the footage drilled or the amount of oil or gas produced. Day rates are typically negotiated based on rig specifications and market conditions.",
  "subject": "Drilling",
  "url": "https://mlchart.com/terminology/oil-and-gas/day-rate/"
}

Record 1,027 of 4,468 in Oil and gas terminology (MLC-0103). Request the full dataset.