[ RadSafe ] Re: CT unit to drill on Mars, Revenue Up 200% - Ref. aq

[Dangelo Gleason]

entera

Coiled
tubing units are so compact and have such great potential, the Mars
Drilling Project is evaluating a coiled tubing unit to drill for water
on Mars.
plication

epistaxis

SPRING, TX--(MARKET WIRE)-- Coil
Tubing Technology, Inc. (CTBG) announces the delivery of the
first group of 8 Rotating Tools to oil and gas well service companies
operating in Mexico and Oklahoma. Designed for use in "fishing"
applications utilizing 2" coiled tubing strings, these tools were
delivered and "in the field" the week of May 1, 2006 peatiness

unidentifiable

In addition, CTBG has received orders for ten more of these 2 7/8"
Rotating Tool units, plus five 2 1/8" Rotating Tools, all of which are
scheduled for delivery to customers before the end of the month of May.
bucolics

irresolutely

CTBG offers the only fully rotating tool for well fishing
applications," stated Jerry Swinford, President of Coil Tubing
Technology, Inc. "Other tools in the marketplace only 'index' or 'turn'
in 90 degree increments without fully rotating, which is an inefficient
means of latching a fish. We are delighted by the overwhelming response
from customers regarding the capabilities of these tools." profitableness

pharyngolaryngitis

The Rotating Tool is a device that attaches to the end of a coiled tube
to assist with "latching a fish," or removing production kits or
undesired obstructions from the well by introducing rotation under
mechanical pressure. The design and action of the tool is similar to a
"Yankee screwdriver." If, for example, during normal operations, a
piece of coiled tube is broken off and remains lodged in the wellbore,
it can be difficult to get the new coiled tubing line past the
obstruction. By introducing rotation to the "overshot," or latching
mechanism at the end of the tool, obstructions can be cleared without
the need to manually work the tool through the well head. becudgel

gurkha

Coil Tubing Technology was established in 1998 by an innovative founder
that has over thirty years experience in the design of oil-field tools
in general and fifteen years of experience in the design of proprietary
tools for the coiled tubing industry in particular. With more than
fifteen patents either granted or pending, CTBG is the leader in
providing new technology to the coiled tubing industry. CTBG has become
a one stop rental tool company supplying a full line of standard as
well as propietary coiled tubing downhole tools. triploblastic

midwinters

COILED TUBING DRILLING TOOLS

The Jet Motor maximizes torque and RPM combinations. This motor has the
capability to establish bit hydraulics. The long life bearing package
allows the tool to stay in the hole longer than average. It can be
jarred without damaging the tool which is ideal for drilling through
shale. The Jet Motor has been used successfully with MWD and steering
tools in drilling applications. The nitrogen power source permits
underbalanced drilling. aloud

gralloch

The Pulsator allows the weight on the bit to be maximized without
stalling the motor as the torsional and axial torque are retained
within the tool. The maximum tensible strength allows high energy
jarring impact while the tool prevents spike loading from migrating up
into the generic tool strings. pickiness

trusteeing

The HeavyHitter, when used on the upstroke only, provides variable
tensible overpull due to its hydraulic metered detent system. The
minimum axial drag at detent release provides high velocity of the
hammer mass to the anvil. andromachi

phooey

THE COIL TUBING BUSINESS

The coiled tubing industry continues to be one of the fastest growing
segments of the oilfield services sector, and for good reason. CT
growth has been driven by attractive economics, continual advances in
technology, and utilization of CT to perform an ever-growing list of
field operations. Coiled tubing today is a global, multi billion dollar
industry in the mainstream of energy extraction technology. scattersite

mishandle

FUTURE TRENDS IN COIL TUBING SERVICES

According to Andy Rike, President of Technicoil USA Corp., a CT service
company with operations in Canada and the US, "We see market growth for
coiled tubing services to independent producers in three areas:
fracturing, particularly multiple interval completions; re-entry
drilling of horizontal laterals or vertical extensions in older wells;
and "grassroots" drilling of shallower wells, including many coalbed
methane wells." proclivity

toluyl

Rike adds that one of the most important reasons for growth of coiled
tubing drilling services has been the development of more integrated
units. "In past years, coiled tubing units were not able to provide the
sort of integrated set of equipment capabilities needed for drilling
and completion operations. This led to an amalgamation of service
company systems cobbled together on site and a situation where the
safety, speed and size advantages of CT were being lost." Now,
Technicoil as well as a few other companies have designed and built
integrated CT units that incorporate everything needed to drill a well
into four trailer loads. When rigged up these units fill a 20,000 sq ft
footprint, less than 1/3 the size of a conventional rig. These newer
units can also drill with conventional pipe, so they can drill a
surface hole and set surface pipe with conventional equipment and then
drill with coiled tubing. repulsion

conjurer

In addition to the small footprint, the primary drivers for wider use
of these units are very tight control of well discharges and speed.
"We've drilled 400 feet per hour in some situations," says Rike. The
combination of a smaller hole, lack of connections, faster trip time,
and the higher drilling rates inherent to downhole motors leads to very
rapid drilling rates. Last year, in the San Juan Basin of New Mexico,
Technicoil drilled 26 wells to around 3000 feet for Burlington
Resources over a four month period with one standard CT system. scyphozoan

hidradenitis

Another area of growth is in fracturing, particularly multiple interval
fracturing. One recent example is a five well project in Virginia's
Buchanan County where as many as nineteen intervals were fractured
using coiled tubing and a bottom-hole packer assembly (Rodvelt, 2001).
These wells, part of a CONSOL Energy Inc. coalbed methane project, were
part of a pilot to determine if individually fracturing each of the
zones would result in better recovery. Prior efforts had evolved from
single-stage, limited entry treatments to multiple-stage treatments
with composite frac plugs and frac baffles. plot

calvinist

Core tests on offset acreage had revealed that 3 of 10 coal seams had
not been stimulated by these treatments and, on average, ten feet of
coal was not being effectively stimulated. If the CT fracturing
approach is successful in improving this situation, CONSOL calculated
that an additional net present value of 1 million could be added per
160-acre lease, based on a gas price of 2.50. The CT fracturing
procedure was a technical success, and hopefully, when the wells are
dewatered and fully evaluated, it will be shown to be an economic
success as well. Other CBM areas have seen similar success. For
example, Barrett Resources experienced a 1.5 fold increase in gas
production from 14 CBM wells in the Raton Basin following stimulation
with coiled tubing versus conventional treatments. "Fracturing is
probably the area with the greatest growth potential," says Rike, "and
coalbed methane is about a third of that market." distillments

consubstantiality

NEW COIL TUBING MARKETS / FIELD
APPLICATIONS

CT first established it's niche in the marketplace as a cost-effective
well cleanout tool. In recent years, these conventional wellbore
cleanouts and acid stimulation jobs accounted for more than three
quarters of total CT revenue. However, CT use has continued to expand
as it is adopted for use in additional field operations. Most recently,
CT fracturing and drilling applications have emerged as two of the
fastest growth areas. Revenue from these two CT applications has grown
from almost zero 10 years ago, to approximately 15 percent in more
recent times. frontbenchers

spurred

GROWTH OF THE SEVICE FLEET

In January 2004, slightly more than 1,050 CT units were estimated to be
available on a worldwide basis. The total number of working CT units is
up sharply from the roughly 850 units reported in February 2001. At
present, the International market accounts for the bulk of the
currently available CT fleet with more than 425 units. Canada and the
U.S. are estimated to contribute an additional 239 and 253 units,
respectively.

complementarities

THE ENVIRONMENTAL AND SAFETY BENEFITS
OF USING COILED TUBING UNITS FOR DRILLING INCLUDE:

The units require about half the space that a conventional drilling rig
requires. The units require less power so there is less fuel
consumption and emissions during drilling. Noise levels are 18 percent
lower than with conventional rigs. hyphenating

chewiest

There is less visual impact as the units are small with no large
derrick tower. asks

disencumbering

All of this means that coiled tubing units are more cost effective,
energy efficient, have a much smaller environmental footprint, and
create less waste. In certain drilling operations, coiled tubing units
cost approximately half of what a conventional drill rig would cost. hydropneumothorax

biffs

In fact, coiled tubing units are so compact and have such great
potential, the Mars Drilling Project is evaluating modifying,
miniaturizing and fully automating a coiled tubing unit to drill for
water on Mars. Realistically, it will be years before the unit is
developed and sent to by rocket to Mars, but it would be an important
first step before Mars could be colonized. And coiled tubing technology
will be be greatly improved by the research. fishmongers

jades

For more information on
CTBG, please visit Yahoo Finance - CTBG  farandoles

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