US Oilfield Markets: How Pad Drilling is Driving Drilling Efficiency Up and Demand for Oilfield Services Down.
15,000’ horizontal wells in the Eagle Ford took 36 days to drill in 2010 and 23 days in 2012. Directional drilling systems were in those same wells 15 days in 2010 and 13 days in 2012. Two PDC bits were used below the intermediate string in 2010, but now just one. Pad drilling in 2013 has advanced those trends even farther in 2013: 12 day wells, 5 days of directional… The pace of acceleration in drilling efficiency may be without precedent in the industry and is having a profound impact on the oilfield’s service and equipment sector.
Using data developed jointly with Oilfield Logix, Richard Spears will show how increasing efficiencies are creating US regional oilfield equipment and service markets that are falling despite rising new well counts.
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Houston , Texas 77002