ExxonMobil Awards License for Efficient Drilling Technology

Source: www.gulfoilandgas.com 2/10/2017, Location: North America

ExxonMobil has awarded to Pason Systems, Inc. the first global license of its patented Drilling Advisory System™, a key component of the company’s Fast Drill™ technology suite. The licensing agreement accelerates the technology’s commercialization by combining Pason’s expertise in drilling data and ExxonMobil’s experience in drilling surveillance and optimization.

Fast Drill combines high-end modeling of drilling physics with structured well planning and design to identify limiters and maximize performance. ExxonMobil’s drilling rate has improved more than 80 percent since introducing the Fast Drill process more than a decade ago. The Drilling Advisory System automates and enables implementation of the Fast Drill process in real time on the rig floor by integrating ExxonMobil proprietary modeling with data analytics. Use of the Drilling Advisory System has thus far improved ExxonMobil’s drilling performance at nine fields.

“Energy producers today are looking for any opportunities to improve operational efficiency and reduce costs,” said Tom Schuessler, president of ExxonMobil Upstream Research Company. “The drilling advisory system component to our efficient Fast Drill technology provides such an opportunity by enhancing monitoring and improving drilling performance, thus reducing costs.”

ExxonMobil’s Fast Drill process has resulted in an annual energy savings equivalent to removing 1,200 cars from the road. The additional reduction in fuel consumed translates to a proportionate decrease in emissions.

“The deployment of ExxonMobil’s Drilling Advisory System extends our portfolio of technologies that can significantly improve the efficiency and effectiveness of drilling operations,” said Marcel Kessler, president and CEO of Pason. “We have enjoyed working with ExxonMobil through the development and field demonstration phases of this project. This license is the culmination of that hard work.”


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Related Categories: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 

Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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