Drill it cheaper, faster

The petroleum industry at a glance reveals depressed commodity prices and worldwide rig counts that have dropped significantly from the highs of 2001.With oil demand outlook weakening, the industry must weigh possible world economic trends in making investment and project development decisions. Against this backdrop, perhaps the casual observer finds it hard to understand, or even notice, the oil and gas industry's relentless pursuit of efficiency.Even as drilling contractors search for increased business and rigs wait for contracts, innovators in the industry are busy trying to find ways of drilling oil and gas wells faster, more efficiently, and with less expense. The industry also ...

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