Technology forged during downturn preps industry for upturn

摘要

Upstream operators have masterfully used the current downcycle to prepare for the years ahead, achieving stunning efficiencies in drilling and completions even though tweaks and improvements were continuous in the years leading up to late 2014 when oil prices plummeted and kicked off what has arguably been industry’s worst slump. Some of these advancements “absolutely” would not have happened if not for the downturn, Allen Gilmer, CEO of DrillingInfo.com, said. One of the first ways operators cut costs and drove what has become known as “efficiencies” was simply getting better at the logistics and coordination of supplies and equipment. Efficiency gains have varied by operator and play, but results obtained by the best operators “look like step change-two times as much as before per same quality of rock,” Gilmer said.