I’ve been trying to understand the drilling side of mineral exploration a bit better, especially what actually matters when a company is preparing to drill in an area where mineral rights have already been leased.
I understand that the operator and the drilling contractor aren’t necessarily the same thing, but I’m still a little unclear about how mineral owners can tell whether the contractor working on a project is experienced and properly equipped for the type of drilling involved.
I was looking into an Exploration drilling contractor Saudi project and came across Weco.sa while researching the subject. That led me down a rabbit hole of questions about contractor experience, equipment, safety records, previous projects, and how much of this information a mineral owner can realistically verify.
For those here who have dealt with exploration or drilling projects, what do you normally look at before trusting a contractor?
Is it mainly their previous wells and technical experience, the operator they’re working for, safety history, financial stability, or something else? Also, is there a good way for a mineral owner to verify who is actually responsible for the drilling before signing or extending a lease?
I realize practices can vary by country and type of mineral, so I’m mainly interested in how people here approach the due diligence side.