New Downhole Data And Precise Engineering Boost Drill Bit Performance
For drill bit engineers, knowledge truly is power. By analyzing everything from why bits fail to how cutters interact with different formation types, they are responding to the trend toward longer laterals with solutions that drill faster and stay in hole longer to reach total depth in fewer runs. The newest generation bit designs help achieve simultaneous improvements in rates of penetration and footage drilled through more effective hydraulics, fine-tuned cutting structures and novel cutter elements. These innovations could not have come at a better time. As average lateral lengths continue to rise, so has the demand for efficient drill bits. Longer laterals and increased drilling in North America helped the worldwide bit market grow 20 percent in 2018 to reach $3.3 billion, according to Spears & Associates.