Category Archives : Oil and Gas

73 Rigs Today are More Efficient Than 105 Rigs Several Years Ago?

According to RigZone, the total count of US oil rigs reached 799 which is the highest count since April 2015. Although this number has been steadily increasing for the past five weeks, the drilling industry has not seen a rig count that can compare to the peak of 2014. While the industry yearns to get back to higher rig counts, the advancement of technology has replaced the need for it. Drilling times have been reduced by more than half compared to a decade ago with the advancement of drill bits, mud motors, drilling fluids, and pressure pumps. Drilling technologies have simply made drilling operations become much more efficient helping to save time and money. The constant need for innovation has helped drive the oil and gas industry allowing it to survive in today’s business environment. The question is, has the industry become so advanced that we have worked ourselves out of jobs? Read this article to dive deeper into the impacts of the industry becoming older and wiser.

Read the full Pipeline News Article regarding the increased performance of current technology.

Oil Demand Peak: Have We Seen It Yet?

The topic of oil supply and demand has always ridden a roller coaster of speculation. Lately, the discussion has shifted from peak oil supply – the idea that we have reached or are reaching the maximum level of oil production possible – to peak demand. However, most view the topic and commodity that is ‘oil’ much differently than they do the broader concept of energy. In this article, Spears does a good job of suggesting ways, albeit taken for granted, that energy use is rapidly increasing and likely to for decades to come. For now, that means hydrocarbon production must keep up, and it is critical that we find new ways to do so that are safer, more environmentally friendly, and more economical, which is exactly what Ulterra attempts to do every day by designing ever-more advanced PDC drill bits and drilling technology.

Peak Ahead?

Lost in the discussion about when oil demand might peak due to the adoption of electric vehicles is the broader, long-term outlook for global energy demand. Indeed, while one camp of energy forecasters see overall energy demand as continually rising, other groups such as the World Energy Council believe that global energy demand is destined to peak. Read the rest of the article Peak Ahead? from Spears Research.