- Oops!Something went wrong.Please try again later.
Transocean Ltd. RIG along with partner Enhanced Drilling established the latest Enhanced Kick Detection (“EKD”) system for rapid kick detection, which enables safe drilling rig operations.
Notably, Enhanced Drilling offers specialized drilling technology and services to the offshore oil and gas industry.
The EKD system removes exogenous impacts of rig and slip-joint motion to provide updates on flow measurements to drillers by timely detecting the irregularities, thereby, reducing the duration of flow checking.
After the elimination of external effects, inaccurate information can be removed and tighter alarm parameters can be used. Notably, an intuitive user interface obviates the need for the human mind and lowers the subjective load of drillers.
With the constant measuring of slip-joint position and fixing the related volume changes, the EKD system monitors the non-stop flow throughout all the well stages to precisely demonstrate well stability, quickly notifying users and systems to kick/loss events.
Per Enhanced Drilling, the system was tested and proved effective in a comprehensive test program, which involved the representation of historical real-life kick events at its testing facilities in Straume, Norway, in late 2020.
Notably, the testing continued for several months and EKD ended up being the system that allows gain and loss detection within 2 minutes at inflow rates of 10 lpm / 2.5 gpm, with 6000 lpm / 1500 gpm pumping flowrate and more than -+ 2 m/ 7’ of heave. Both companies used the DNVGL Technology Qualification DNV-RP-A23 (TQP) process for the project’s development.
The Enhanced Kick and Loss detection solution is currently accessible for offshore deployment and transforms the industry by improving drilling efficiency and removing people from the rig to increase safety and lower costs.
Switzerland-based Transocean is one of the world’s largest offshore drilling contractors and leading providers of drilling management services. The company provides rigs on a contractual basis to explore and develop oil and gas. While the company’s backlog of $7.8 billion reflects steady demand from the customers and offers earnings and cash flow visibility, the coronavirus-induced drilling slump has hit the demand for contracting work.
Many oil producers — including biggies Chevron CVX, ExxonMobil XOM and Royal Dutch Shell RDS.A — have withdrawn from drilling endeavors, putting a great deal of pressure on margins and utilization of firms like Transocean.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Transocean Ltd. (RIG) : Free Stock Analysis Report
Royal Dutch Shell PLC (RDS.A) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research