I
n the oil and gas industry, the drilling community is well known for its focus
on improving the overall rate of penetration (ROP) at which wells are drilled.
This intense focus on improving ROP and the very frequent use of the term
within the community results in desensitising this group to the value created
by enhancing penetration rates while drilling. For example, when developing
an asset, one of the most fundamental aspects that operating companies are
focused on to improve the economics of that play, is lowering their lifting cost
per barrel of oil equivalent. There are limited ways to accomplish this objective,
either:
Ì
Improve production of each well.
Ì
Reduce the cost to construct and produce the well.
Ì
Or both.
MARK FREEMAN, TERCEL, USA,
ANALYSES A NEW DRILL BIT
ENGINEERED TO ENHANCE DRILLING
EFFICIENCY AND INCREASE ROP.
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