Economics challenge drill bit manufacturers to reduce drilling costs ///

Drill bits are relatively inexpensive, compared to other BHA components, but their performance has a significant impact on overall well costs. Today’s difficult economic environment, combined with ever-increasing wellbore complexities, has driven drill bit manufacturers to strive to improve drilling efficiency and bit performance. In most applications, useful life and ROP are the two key barometers that define the economic benefit that an operator will obtain from a PDC or roller cone bit. From an economic perspective, bit longevity determines the number of trips required to change out tools, while ROP affects the number of rig-hours required to TD the well. Together, these two fundamental factors directly impact overall well costs.

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