Case Study: European Offshore Drilling Operator achieves over $130M in savings with AlixPartners

European Offshore Drilling Operator - Customer Case Study

European Offshore Drilling Operator, a European offshore drilling company specializing in deepwater semisubmersibles and drill ships, faced rising overcapacity risk as the latest industry upcycle began to fade. The company engaged AlixPartners to review the business end to end and identify cost savings across both operating expenses (OPEX) and capital expenditures (CAPEX) to help it stay financially resilient through the downturn.

AlixPartners set up a program management office, established a financial baseline, and led detailed OPEX and CAPEX reviews across staffing, vessel operations, shoreside functions, drilling assets, asset optimization, and third-party services. The work uncovered more than $100 million in potential OPEX savings and nearly $30 million in CAPEX savings, with the company implementing most of the proposed initiatives and realizing 100% of the identified OPEX savings within 12 months.