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Last updated on April 16, 2014 at 17:34 EDT

Latest Drill bit Stories

2013-01-13 12:20:16

FORT WORTH, Texas, Jan. 13, 2013 /PRNewswire/ -- An Ulterra 8 3/4-in. U513S PDC bit drilled a high-angle build section in an Eagle Ford well in 6.5 hr., beating the best offset rate of penetration (ROP) by 16.4%, according to the company. (Logo: http://photos.prnewswire.com/prnh/20110906/DA62410LOGO ) The shale-specific PDC bit drilled the 15 degree /100'- curve section with a 30 degree change in azimuth in a Dimmit County oil well, 129 mi. southeast of San Antonio. Typically, directional...

2012-08-27 02:22:34

FORT WORTH, Texas, Aug. 27, 2012 /PRNewswire/ -- A 6.125" U613M PDC bit combined with a TorkBuster performance drilling tool drilled the Mississippi lateral significantly further and faster than any offset drilled in Woods County, Oklahoma. Drilling 3,370' of high-chert, Mississippi formation at 71.7 ft. /hr., the run saved the operator $207,000 compared to the average offset "chat" well. (Logo: http://photos.prnewswire.com/prnh/20110906/DA62410LOGO) The "chat" is the upper zone of...

2012-08-14 06:22:40

CAMBRIDGE, Mass., Aug. 14, 2012 /PRNewswire/ -- Intervale Capital, a private equity firm focused on the oilfield services industry, has sold Ulterra Drilling Technologies, L.P. ("Ulterra" or the "Company") to ESCO Corporation for $325 million in cash, subject to customary closing adjustments. Headquartered in Fort Worth, Texas, Ulterra manufactures and rents matrix and steel-body polycrystalline diamond compact (PDC) bits and drilling optimization tools for use in all the major oil and gas...

2012-06-04 02:27:33

HUNTERSVILLE, N.C., June 4, 2012 /PRNewswire/ -- IRWIN® Tools, a global manufacturer and distributer of a broad line of professional-grade hand tools and power tool accessories, continues the rich heritage of its Marples® sub-brand by introducing the new IRWIN Marples( )Woodworking Series saw blades and IRWIN Marples Bevel Edge Chisel line. Long known for its quality and precision, the Marples name has been a favorite among fine craftsmen and professional tradesmen since its origin in...

2012-03-19 19:12:27

30-year-old investment comes full circle Nearly two-thirds of the oil we use comes from wells drilled using polycrystalline diamond compact (PDC) bits, originally developed nearly 30 years ago to lower the cost of geothermal drilling. Sandia and the U.S. Navy recently brought the technology fullcircle, showing how geothermal drillers might use the original PDC technology, incorporating decades of subsequent improvements by the oil and gas industry. Sandia and the Navy´s Geothermal...

2012-03-12 00:00:00

FORT WORTH, Texas, March 12, 2012 /PRNewswire/ -- For the first time, a single Ulterra bit has drilled the entire intermediate section of the Tattoo field, located in Northwest Canada. An 8.5" (216mm) U513M drilled both the vertical and build sections with the same bottom hole assembly, saving the operator two trips and $72 per-meter versus the best offset and $570,000 when compared to the average of six section offsets in the field. (Logo:...

2012-02-15 14:00:00

WellEz (http://www.wellez.com) released a significant upgrade to their wellbore diagram feature, allowing users to see both vertical and horizontal wellbore diagrams, including casing info and downhole equipment. Houston, Texas (PRWEB) February 15, 2012 WellEz released a significant upgrade to the wellbore schematic component on January 24, 2012. The new wellbore schematic allows users to see both vertical and horizontal wellbore diagrams, and is automatically populated throughout the...

2012-01-30 00:00:00

FORT WORTH, Texas, Jan. 30, 2012 /PRNewswire/ -- A new 12.25-inch U616M, six-blade matrix PDC bit with 16mm cutters recently set a Roger Mills County footage record in western Oklahoma. The Ulterra bit drilled 7,065 ft. from surface casing down to a depth of 8,115 ft., saving the operator an estimated $44,500 versus the closest offset and $88,500 versus the average of five offset wells. (Photo: http://photos.prnewswire.com/prnh/20120130/DA43621)(Logo:...

2011-12-04 22:00:00

FORT WORTH, Texas, Dec. 4, 2011 /PRNewswire/ -- The new U616M, 8.75-in., six-bladed matrix bit with 16-mm cutters drilled from surface casing to TD at a record pace of 93 ft/hr. All three intervals - the vertical, curve and lateral - were drilled with the same bottom hole assembly, reaching TD without a trip out of the well. A total of 9,953 ft was drilled in 107 hrs, a time savings of 37.5 hours over the fastest competitor offset of 144.5 hours. Cost savings were $73,566 versus the...

2011-12-01 12:30:00

HUNTERSVILLE, N.C., Dec. 1, 2011 /PRNewswire/ -- IRWIN® Tools, a world-class manufacturer of a broad line of professional hand tools and power tool accessories, recently extended its online services for Spanish-speaking tradesmen with http://es.irwin.com - a full-service Spanish-language resource with easy access to IRWIN's product information, promotions and retail channels, along with customer service. Setting a new industry benchmark in the U.S., the...