Issue: September 2024
SPECIAL FOCUS: UPSTREAM PRACTICES
Electrification has proven to be effective in lowering costs and the carbon footprint of drilling operations. This article provides technical analysis of highline (grid) power utilization on rigs through the lens of an innovative technology that connects a rig to a power grid, reducing Scope One emissions to nearly zero.
New equipment automation advancements remove personnel from the red zone, improving safety, consistency, and efficiency.
By looking at inter-related metrics and how they impact the bottom line, experts can help deliver an improvement in maintenance strategies that may have traditionally been done using an “open and inspect process” on field operations and equipment—both of which are labor-intensive and higher-risk.
Operators are under great pressure to increase operational efficiencies, and drilling faster is key. However, pushing drilling equipment harder can be risky, as expensive components can be damaged by vibrations. Mitigating drilling dysfunctions caused by near-bit vibrations is crucial to increasing weight on bit (WOB), which leads to gains in ROP without compromising the drill bit or damaging the BHA.
GLOBAL MID-YEAR FORECAST
As exploration and development activity increased in 2023, so did capital expenditures and mergers and acquisitions. Oil and gas companies have continued to increase their voluntary ESG disclosures.
