Background:

Since rig counts peaked in 2014, the United States is producing 24% more oil with half the rigs. These efficiencies have been hard won with longer laterals, better completion designs, and a deeper understanding of the subsurface. Despite these gains, complacency is not an option for the industry as it continues to search for opportunities to optimize the drilling process, balancing the desire for increased ROP while maintaining the integrity of wellbore placement. The industry has settled into the lower price environment and, in pursuit of positive cashflows, future cost savings are being pursued in the form of novel and reliable downhole equipment, advances in consumables, and further use of analytics and machine learning to give drilling teams an unprecedented level of information and rig control.

Drilling continues to be a significant capital expenditure for oil companies and lowering those costs is a priority, however those lower costs must not come at the expense of producing a high-quality well that is landed and stays within the formation of interest, increasing the potential for maximum hydrocarbon recovery. Our scouting and research are focused on emerging technologies that will help achieve both these goals, drilling a competent well at low cost.

As companies continue to balance the need for faster drill times with increasing focus on precision, technological innovation will have a significant impact. For adopters, these innovations will create truly sustainable value and competitive strength.

2019 Study Scope:

The scope of our 2019 study will branch out into new spaces in drilling technology while not neglecting subjects we have already covered:

SURFACE:

• Supply Chain Management and Resource Deployment- Utilizing advanced analytics and mobile additive manufacturing to effectively utilize resources and time on the rig site
• Advanced Rigs- Rig equipment automation

SUBSURFACE:

• Consumables and Advanced Mud Technology - Identifying novel LCM and chemical solutions to increase borehole integrity and decrease lost returns while analyzing advanced water-based mud solutions
• Telemetry solutions to enhance data transmission
• Enhanced Drilling Equipment with a focus on reliability with low MTBF

DIGITAL:

• Data Management and Automation of drilling equipment or processes to reduce human error and costs
• Advanced Geosteering & Well Placement to more accurately execute a wellbore