Tony Petrello leads Nabors to introduce new pad drilling systems

Posted on August 8, 2017

For a very long time, it has been known that the United States possesses a tremendous amount of oil reserves that are located in hard-to-reach shale deposits. This has been known for at least the last 50 years. However, it did not begin to become economically viable to extract these oil resources until very recently in the country’s history. The major reasons for the extraction of this oil have been innovations that have come from companies like Nabors Industries, led by superstar CEO Tony Petrello.

After taking the helm of Nabors Industries, in 1991, Petrello began an intensive effort to expand the company’s horizons into the field of technological development, particularly in the area of directional drilling, hydraulic fracturing and pad drilling systems. The result of this was the development, throughout the early 2000’s, of drilling systems that were far more efficient and capable than anything that had ever come before.

One of the areas in which Tony Petrello focused the company’s efforts was development of pad drilling systems. By 2005, its OrientXPress steerable directional drilling system was dominating the unconventional oil play markets, making Nabors Industries one of the largest suppliers in the country to sites requiring directional drilling and hydraulic fracturing equipment. The OrientXPress steerable directional drilling system is able to accommodate up to 20 drills simultaneously per pad. This dramatically increases both the efficiency and the capability of the drilling equipment and allows the oil play to be extracted at a much higher rate. This also dramatically reduces costs due to the economies of scale inherent in a site that is capable of simultaneously operating 20 separate wells.

Nabors Industries has also developed the state-of-the-art software, such as its ROCKIT performance drilling software, that is able to maximize the efficiency of its high-tech equipment. Through the use of such systems, Nabors Industries has nearly eliminated the labor costs associated with such ambitious drilling undertakings.

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