Exploration & Processing - Winter 2010 - (Page 64)
CANRIG DRILLING TECHNOLOGIES LTD. BY BRIAN SALGADO THE NEW INCARNATION OF CANRIG DRILLING TECHNOLOGIES LTD. COMBINES PROVEN DRILLING APPLICATIONS WITH UNPARALLELED INFORMATION RESOURCES. OFF LIKE A ‘ROCKIT’ T Canrig Drilling Technologies Ltd. merged with Epoch Well Services at the start of 2009 to provide intelligent drilling equipment to the oil and gas industry. The new company offers its Rockit services, which combine the strengths of the individual firms under one brand. COMPANY PROFILE Canrig Drilling Technologies Ltd. www.canrig.com Nabors 2008 sales: $5.5 billion Headquarters: Magnolia, Texas Employees: 750 Products: Intelligent drilling equipment here are plenty of reasons for companies to merge, but it isn’t often that the synergy pays off almost instantly, as it has for the latest incarnation of the Canrig Drilling Technology Ltd. After co-existing under the same parent – Nabors Industries Ltd. – since the 1990s, Canrig and Epoch Well Services merged at the beginning of 2009, and Canrig Drilling Technology since has managed to leverage the best qualities of both firms almost immediately. Canrig boasts more than 20 years of experience as a manufacturer of drilling equipment. Originally founded in Calgary, Alberta, the company’s products include top drives, automated catwalks, floor wrenches, control systems and a line of intelligent accessories. Epoch Well Services was one of the fastest-growing suppliers of drilling data, analysis and software in the world. By merging, the companies combined their core capabilities of drilling innovation and extensive data research under one operational unit. The main product that has thus far resulted from the merger is the Rockit, which is Canrig’s steering control system. Rockit has demonstrated the ability to save rig time by: ■ Increasing rate of penetration while sliding; ■ Faster toolface setting; and ■ Improving toolface control. These result from three unique functions: oscillation control, tool face orientation and bearing offset control, all contributing to safer and more efficient drilling operations. Rockit is especially effective in horizontal drilling operations like those most frequently used in the various shale plays that make up much of today’s drilling market. “The most interesting dynamic service that is directly a result of the merger is our Rockit services,” says Gregory Kostiuk, vice president of sales and marketing. “This is a commercialized product with upgrades in the pipeline that will soon be commercialized. “The gist of this is we wanted to deploy a service that has potential to significantly impact efficiency through capabilities and power of the top drive,” he adds. Optimizing Efficiency With margins smaller than ever in all industries, efficiency is on everyone’s mind. Kostiuk says Rockit WINTER 2010 Gregory Kostiuk, vice president of sales and marketing: “The most interesting dynamic service that is directly a result of the merger is our Rockit services.” 64 | EXPLORATION-PROCESSING.COM
Table of Contents for the Digital Edition of Exploration & Processing - Winter 2010
Exploration & Processing - Winter 2009
Preparing for an Economic Upturn
Emergency Preparedness Case Study
quasar energy group
The Crossing Co.
Discovery Drilling Contractors
Mantra Venture Group
Alaska Clean Seas
Platinum Group Metals Ltd.
TG Engineering Inc.
Abacus Mining & Exploration Corp.
Advanced Rig Services
Bell Industries Inc.
Canrig Drilling Technologies Ltd.
Equipment Maintenance Services
Galloway Oilfield Construction Ltd.
Latex Construction Co.
PC Gold Inc.
Processes Unlimited International Inc.
Global Industries Ltd.
Herman Oil Co.
Juhl Wind Inc.
MWD Services LLC
Nevada Geothermal Power Inc.
Oski Energy LLC
Powertech Uranium Corp.
Avanti Mining Inc.
BlackBrush Oil & Gas – Texstar Midstream
The Coeur d’Alenes Co.
Vibration Technology Inc.
Exploration & Processing - Winter 2010