Drilling Rig definition

Drilling Rig means any drilling rig (or the stock or indebtedness of any Subsidiary owning a drilling rig) that the Company leases or owns, either entirely or in part; provided that no drilling rig that has a gross book value of less than 1% of the Company’s Consolidated Net Tangible Assets will be deemed to be a “Drilling Rig” for purposes of Section 4.03 hereof.

Drilling Rig means the onshore drilling rig and associated equipment;

Drilling Rig means the complete structure and machinery required for drilling purposes at the bore hole site;

Examples of Drilling Rig in a sentence

• If in COMPANY’S opinion, any member of CONTRACTOR’S personnel is incompetent, negligent, or working and/or behaving in such a way as to make his continued presence on the Drilling Rig and/or in COMPANY’S base undesirable, COMPANY shall notify CONTRACTOR in writing to that effect and CONTRACTOR shall at once remove him and shall at its expense replace the particular member of its personnel in the shortest possible time, with the one to be approved by the COMPANY.

• Class D A - Crane Oversize and Overweight Special Permit - Self-propelled Mobile Crane, Drilling Rig, or Similar Specialty EquipmentR17-6-206.

• A Drilling Rig shall not be removed from a Well drilled unless the Well has been completed, suspended or abandoned in accordance with this Decree -Law and Good Oil Field Practice.

• COMPANY shall be entitled to designate a representative or representatives who shall at all times have access to the Drilling Rig the purpose of observing tests, inspecting the work performed by CONTRACTOR or verifying the records of items furnished by CONTRACTOR.

• CONTRACTOR shall prior to start of operations submit updated Drilling Rig operating manual, written procedures such as drilling, routine BOP testing, etc.

More Definitions of Drilling Rig

Drilling Rig means machinery and ancillary equipment used for drilling wells and/or for working over wells;

Drilling Rig means the plant used to make a Well by boring or other means and includes a derrick, draw works, rotary table, mud pump, Blowout preventer, accumulator, choke manifold and other associated equipment including power, control and monitoring systems;

Drilling Rig means the derrick and all equipment directly involved with drilling a well. (« appareil de forage »)

Drilling Rig means any drilling vessel or offshore rig owned by the Company or a Subsidiary thereof.

Drilling Rig means the machine used to drill a wellbore. In onshore operations, the rig includes virtually everything except living quarters. Major components of the rig include mud tanks, mud pumps, derrick or mast, drawworks, rotary table or topdrive, drillstring, power generation equipment and auxiliary equipment.

Drilling Rig means the Drilling Rig to be utilized by CONTRACTOR in the performance of its obligations under this Contract and as listed.

Drilling Rig means the plant and associated support equipment used to make a hole or well by boring or other means for geophysical, exploration or production purposes; (appareil de forage)