By OGJ editors
HOUSTON, Sept. 19 -- Expandables technology is apt to become mainstream technology sooner than many might expect, maybe within 2-3 years, UBS Securities LLC analysts said in a report on the monthly PatchWork Survey.
The survey polled operators about whether they plan to use any type of expandables technology during the next 12 months.
"We were surprised that almost one-half of operators with offshore exposure planned to use this technology," said the September survey, which was taken in late August. "Since we began the PatchWork Survey last year, we have been asking customers to name the most innovative technologies being used¿. During this time, no technology has been cited more often than expandables tubular technology."
UBS polls operating companies on their spending plans and price expectations (OGJ, Mar. 25, 2002, p. 7).
Expandable tubular technology can be used for various applications in well construction, completion, and maintenance. Current applications include expandable sand screens, expandable liner hangers, expandable casing and tubing, and casing patches.
"This technology has garnered a lot of attention recently as it holds the potential to vastly reduce well construction costs or improve production capabilities," said analyst James H. Stone. "It appears that the growth potential of this nascent product is quite favorable."
Other survey findings
Drilling activity has resumed an upward trend, and that trend is expected to continue, Stone said. Meanwhile, survey participants said that work over activity expectations were flat, he said.
"Seismic remains mired in the doldrums, and our expectation index registered 0 this month, the same as last month, and about the same as it has been since we started recording it. We do not expect any change in activity levels for seismic acquisition, which continues to spell trouble for seismic companies," Stone said.