Abstract

An earlier macro-analysis of more than 100,000 bit records from around the world revealed that advancements in PDC and roller cone bit technology has had a beneficial impact on drilling costs. That study documented technological advancements in PDC bit design and application, which contributed to a reduction in global cost per foot an average of 35%, while roller cone performance improvements have resulted in an 8% drilling cost reduction on average. Also, an earlier study of field specific bit performance and application patterns further supported these results by documenting at a micro level the positive impact of iterative advancements in bit technology on drilling economics. These advancements have significantly reduced drilling costs and increased overall drilling efficiency in both high and low cost drilling theaters worldwide. Technical advancements have improved both bit life and penetration rates. This paper will present case studies that document how recent bit advancements are coatinuing this cost savings trend in several fields worldwide.