Drilling speed: More savings to be had? ///

The lifting cost, or cost per barrel, becomes a hot topic when margins are squeezed by low crude prices. An interesting debate, in this context, is what can be done to drilling speed—are we close to theoretical limits, or are we still far off? A good starting point for evaluating the potential for faster rates of penetration, as well as longer drilling distances, is drill bit efficiency. As of 2015, the Polycrystalline Diamond Compact (PDC) drilling bit is the most energy-efficient choice. In simple terms, the PDC bit can transform up to about 50% of the input power into rock destruction and removal. This is about twice the efficiency of insert or roller-cone bits.

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