OTC 2012: Halliburton introduces new fixed cutter drill bits

Offshore staff

HOUSTON – At the Offshore Technology Conference, Halliburton (NYSE: HAL) introduced the MegaForce advanced fixed cutter drill bits. Key technology innovations in cutting structure and matrix material, multilevel force balancing, hydraulics and shank length deliver more than a 20% improvement in drilling penetration rates.

Laura Schwinn, vice president of Halliburton’s Drill Bits and Services product line, said: “As operators drill increasingly deeper and longer wellbores in unconventional formations, they must rely on bits that can drill farther and faster with demonstrated reliability. With its advanced technologies and our Design at the Customer Interface (DatCISM) service, MegaForce bits benefit operators with higher rates of penetration and longer intervals drilled, reducing significantly their cost per foot drilled.”

Field trials of MegaForce bits revealed penetration rate and reliability improvements over current fixed cutter bit offerings. In Uintah County, Utah, and in Leon, Upton and Wheeler counties, Texas, new field records were set during each MegaForce bit run. Drilling between 18% and 31% more footage, MegaForce bits demonstrated at least 20% increases in rate of penetration over offset wells. Following each run, MegaForce bits were graded equal to or sharper than offset bits.

5/01/2012

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