This newly listed co. makes and refurbishes drill bits in one of the most actively drilled areas of the country. Anyone think there will be a need for more drill bits and down hole technology in the near future? If so, 6.50 seems cheap. What potential. Doubt they'll stop drilling in Vernal and beyond. glta
Operators never cease trying to reduce drilling costs and decrease drill times from spud to TD.
Especially in the era of frenzied horizontal drilling with landing zones deep in shale formations where source rock is located and oil is present.The pressure is relentless on co's to increase oil volumes and convert production into cash flow while booking and growing reserves asap.By extending laterals and drilling deeper into the formation where external pressures,friction and stress are much greater can cause down hole and completion issues which usually result in a loss of time and money on these big ol' expensive multi-million $ wells.NOT GOOD FOR THE BOTTOM LINE. or SHAREHOLDER VALUE no,no,no !
I think the tangible benefits that their solution driven duel section reaming tool provides can smartly help operators overcome problems associated with non conditioned wells and casing deformation which will hopefully lead to eliminating costly down time,improved well bore stability and maintaining well bore integrity dur
ing drilling activity.