Exploration & Processing - Fall 2010 - (Page 122)

PREMIUM ROCK BIT CORP . BY RUSS GAGER Premium Rock Bit Corp. boasts top-notch service that can get drill bits and equipment to its customers 24 hours a day. HOUSTON-BASED PREMIUM ROCK BIT CORP. HAS SHARPENED ITS BUSINESS PLAN TO DISTRIBUTE DRILL BITS AND EQUIPMENT WORLDWIDE. MAKING IT A BIT BETTER COMPANY PROFILE Premium Rock Bit Corp. www.premiumrockbit.com Headquarters: Houston Employees: 7 Projected 2010 revenues: $5 T million to $7 million Service: Distributor of well drilling bits and equipment Scott Witsman, vice president: “How many hours can the bit stay in the hole before it’s used its lifetime up?” 122 | EXPLORATION-PROCESSING.COM he earth is the source of all of mankind’s and nature’s wealth. Everything mankind uses to build towering cities and instantaneous communication networks – even to explore beyond its planet – comes from the earth: specifically, the ground. Helping mankind extract the most valuable liquid of all – water – along with the second most valuable – oil – and natural gas from Mother Earth is Premium Rock Bit Corp. The company’s products also are used in mining applications in Iceland and the western United States to extract geothermal energy from volcanic sources. Scott Witsman, vice president, estimates that 60 percent of the company’s drill bits are used for oil and gas, 20 to 25 percent for water wells and 10 percent for geothermal. When it comes to drilling, the longer tools can last, the better. “What everybody is looking for nowadays is faster drilling, which is called penetration rate,” Witsman explains. “How many hours can the bit stay in the hole before it’s used its lifetime up?” That varies depending on several factors. “You’re looking at probably hundreds of hours now depending on the size, formation and what part of the world you’re drilling in,” Witsman surmises. “In the Middle East, in some of the softer drilling areas, the bits are going to last longer. So it’s a very wide range of components that dictate what type of bit will need to be run and how long it will last.” FALL 2010 http://www.EXPLORATION-PROCESSING.COM

Table of Contents for the Digital Edition of Exploration & Processing - Fall 2010

Exploration & Processing - Fall 2010
Spillover Effects
Profitable Path to Renewable Energy
Dynamic Air Shelters Ltd.
Elevating Boats LLC
Gazelle’s Oilfield Services Ltd.
International Alliance Group
Lydford Mining Co.
Offshore Inland Marine, Industrial & Oilfield Services
Q.B. Johnson Manufacturing Inc.
Thermo Design Engineering
Western Camp Services Ltd.
Western Copper Corp.
Alberta Welltest Incinerators
Blakely Construction Co. Inc.
Bluewater Constructors Inc.
Energy Fabrication Inc.
OFM Pump Inc.
Lithium Americas Corp.
New Dominion Construction Inc.
Otis Gold
Owen Sound Ledgerock Ltd.
Reagan Equipment Co. Inc.
Swick Mining Services (Canada) Inc.
American Oil & Gas – The Goliath Project
Africo Resources Ltd.
American Tank Company Inc.
Atlas Copco Geotechnical Drilling & Exploration
Clarkco Oilfield Services Inc.
Energy Fuels Resources Corp.
ESA Renewables LLC
GPR Industries (1994) Ltd.
Helio Resource Corp.
Landdrill International Inc.
Laurel Aggregates Inc.
LoneStar Energy Fabrication
NioGold Mining Corp.
Pacific Booker Minerals Inc.
Phoenix Exploration Co.
Premium Rock Bit Corp.
Queenston Mining Inc.
RAE Engineering & Inspection Ltd.
Goldcorp – Red Lake Gold Mines
C-FER Technologies Inc.
Surepoint Group
Eden Stone and Valders Stone & Marble Inc.
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Exploration & Processing - Fall 2010