Day Rate

Day rates are the rates a drilling contractor gets for a drilling rig from an oil company, or operator. Oil companies and contractors will ordinarily settle on a total price for a contract. By partitioning the total contract cost by the number of days in a contract, drillers think of their dayrates. They vary widely, however are a big indicator of the wellbeing or snugness of the drilling market - - pay special attention to escaping investors if a dayrate is even marginally lower, regardless of what the conditions!

Features

• The day rate, or outlay, is a flat fee charged for a single day of a singular's work.
• Day rates are common in industries which utilize workers on a for every undertaking or seasonal basis.
• Day rates likewise have become common among experts who work on a freelance basis.