This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Schlumberger Announces Second-Quarter 2013 Results

In Russia, Smith drill bits set new records while drilling the vertical intervals of exploration wells for Wolgademinoil in the Avilovskoe field. In the 11 5/8-in section of one well, Smith steel body PDC bits with premium cutters increased rate of penetration (ROP) five-fold, and footage by 350%, compared to the best offset wells. In the same well, but in the 15 1/2-in section, ROP was doubled and the section completed in one run while the footage drilled increased by 130%.

In the Caspian Sea, Schlumberger Drilling & Measurements introduced the PowerDrive Xceed* rotary steerable system for LUKOIL-Nizhnevolzhskneft on an offshore extended reach drilling project in the Korchagina oilfield. PowerDrive Xceed technology enabled the efficient drilling of the world’s longest 9 1/2-in section and a corresponding saving of two days compared to the well construction plan.

In Angola, Drilling & Measurements technologies were deployed for Cabinda Gulf Oil Company to evaluate a development well in a deepwater channelized reservoir system. StethoScope* formation pressure-while-drilling and EcoScope* multifunction logging-while-drilling technologies were used for petrophysical data evaluation and to assess reservoir depletion magnitude and connectivity. The combination of petrophysical data, azimuthal density images and mud log data, led to the identification of an additional 30 ft of low resistivity pay which enabled the operator to deepen the overall completion and increase the perforated interval. In addition to increasing the reserves, the Drilling & Measurements technologies provided operational efficiency through higher data acquisition rates, which led to a significant reduction of non-productive time and a cost saving to the operator of approximately 60 hours of rig time.

In South Mexico, Schlumberger IPM and Drilling Group Technologies introduced the TURBODRILLING application for Pemex on high-compressibility rock formations. The combination of Drilling Tools & Remedial Neyfor* turbodrilling systems with customized Smith hybrid and impregnated bits was able to drill effectively and build angle on a well interval consisting mainly of compressible mudstone with up to 40% abrasive chert nodules. The well interval was drilled in less than 211 hours at an average rate of penetration close to 7 ft/hr, saving Pemex approximately 96 drilling hours compared with conventional drilling systems.

8 of 13

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs