<img class=" wp-image-615 alignleft" src="http://mwdkits.com/wp-content/uploads/2015/12/150113153652-boom-and-bust-oil-1024×576.png" alt="150113153652-boom-and-bust-oil-1024×576" width="329" height="185" srcset="http://mwdkits go to this web-site.com/wp-content/uploads/2015/12/150113153652-boom-and-bust-oil-1024×576.png 640w, http://mwdkits.com/wp-content/uploads/2015/12/150113153652-boom-and-bust-oil-1024×576-300×169.png 300w” sizes=”(max-width: 329px) 100vw, 329px” />As everyone knows, the price for barrel of oil is still far less than it was last year, and that means those who drill for oil and natural gas are having to find ways to drill it better cheaper and faster.
Everyone has gotten a lot more conscious of where the money is going since oil prices dropped. At $100 per barrel, everyone was making money. Now, only the most efficient are showing a profit. The new drilling rig models show the new emphasis on efficiency at every step in the process.
New “walking rigs” have reduced traditional relocation costs from around $100,000 to about $7000. The high tech “feet” on these new rigs allow operators to transfer or “walk” their rig to a new location without taking it apart. When you consider that a company Mike drill 30 holes in a year in a given location, the cost savings is tremendous.
This is just one example of how operators are using technology to help them survive the downturn and preserve the thousands of jobs the oil business provides. Companies are also using the latest high-tech drilling components and imaging to identify natural cracks in the wells and even refractivity previous wells to pump out the oil that was left behind.
It’s all about being efficient. MWD designs and manufactures field ready products that deliver maximum efficiency and stability. We understand the need for cost savings and help you achieve the highest productivity for the lowest cost.
Thankfully, enough smart operators are incorporating new technologies and equipment to ensure that even in these worst of times there will be plenty of drilling activity in Texas.