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Digital Drilling Disruption—Understand Downhole, Gain Control

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The shift toward lower oil prices in the oil and gas industry has resulted in the necessity for more wells to be drilled at lower cost, either to sustain production or to generate new, low-cost reserves. With a continued shift in demand for hydrocarbon energy sources, this development is expected to continue with an improvement goal of 30% or more by 2025.

Because drilling costs are a significant contribution to the cost per barrel, the industry is being pressured into finding ways to lower cost per foot drilled. Numerous other industries have shown that they are able to constantly reduce cost per unit; the aviation sector has reduced the cost per mile and passenger, and the automotive industry has constantly reduced the cost per car produced.

Where do we stand today and what will the future possibly look like?

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Digital Drilling Disruption—Understand Downhole, Gain Control

Gerhard Thonhauser, Chair of Drilling and Completion Engineering at Montanuniversitaet Leoben, Chairman and Founder of TDE Group

01 November 2018

Volume: 70 | Issue: 11

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