Ulterra’s Latin America team has made huge strides over the past few years in attracting new customers and gaining market share. Last year, Ecopetrol in Colombia awarded Ulterra with its 2nd highest contract with 25% of their bit runs. Every quarter, Ecopetrol re-evaluates the service companies based on Key Performance Indicators (KPI) including quality of service, performance of existing bits, and introduction of new designs. Within just 1 year and 4 positive KPI evaluations, Ulterra is now the top drill bit provider with Ecopetrol with 63% of their drill bit runs. This is due to consistently impressing the rigs and offices with our customer service and continuously selecting the right bit for the operator’s needs. A huge part of this success is attributed to the excellent work coming out of Ulterra’s UGS facility. Ecopetrol has very strict repair criteria for running used bits and Ulterra is the only Ecopetrol bit provider allowed to get 6 runs on a serial number.
This growth with Ecopetrol in Colombia is gaining speed across the rest of Latin America as operators in Mexico and Argentina are catching wind of this success.