By Daniel Canty
Drilformance is looking to drill straight to the heart of the PDC bit market.
Drilformance is looking to drill straight to the heart of the PDC bit market.A drilling tool that uses polycrystalline diamond compact (PDC) cutters to shear rock with a continuous scraping motion is better known as a PDC bit. Less of a mouthful.
These cutters are synthetic diamond disks about 1/8-in. thick and about 1/2 to 1 inches in diameter. PDC bits are effective at drilling shale formations, especially when used in combination with oil-base muds.
Rusty Petree, chairman and CEO of Drilformance says the American company is implementing a international growth strategy that includes development of Middle East operations. The company is in the process of establishing a facility in Jebel Ali in support of the Middle East market.
"The Middle East will continue a positive secular trend for high-end PDC drill bit technology for the foreseeable future," explains Petree.
Drilformance PDC bits are designed to work in the widest range of drilling conditions. Petree claims the company's bits continue to deliver exceptional performance to our customers through both expected and unexpected challenges. "It's an exciting area of the business to be in. Technology in development will deliver the next step change in drilling performance," he says.
"Our customers are focused on improving efficiency to optimise return on investment in a lower price commodity environment. Right now we are focused on improving the operational efficiency of our customers. Drilformance is currently developing a downhole drilling system with the potential to create a step change improvement in drilling performance for both vertical and directional applications. The technology will be ready for commercial deployment next year," he reveals.
Petree's expectations remain upbeat, despite the slump in North American rig utilisation seen this year. "We expect continued growth in 2009 accelerating in 2010 as we launch additional exciting drilling technologies."