Stilley: Despite challenging outlook, opportunities are plenty in the long term

Opportunities abound for the drilling industry even in an environment of high costs and falling oil prices, Randall D. Stilley, President & CEO of Paragon Offshore, said at the 2014 IADC Annual General Meeting in New Orleans on 13 November. “The world needs oil and gas, and decline rates are accelerating,” he said. In this interview, Mr Stilley discusses his outlook for the offshore drilling industry and explains how older rigs can still demonstrate some of the lowest levels of downtime in the industry.