Drillmec and GEOLOG Announce Joint Business Development Agreement

Published Jan 30, 2018
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Drillmec/GEOLOG - HOD
The HoD® Continuous Circulation System offers uninterrupted bottom hole pressure management during connections (photo: Drillmec/GEOLOG)

Drillmec SpA, a subsidiary of TREVI Finanziaria Industriale SpA, and GEOLOG International BV have entered into a Global Commercial Agreement for joint business development and provision of Drillmec’s HoD® (Heart of Drilling) service. GEOLOG, an independent oilfield services company, provides advanced surface logging solutions used by operators worldwide to optimise drilling performance and deliver advanced hydrocarbon and reservoir characterisation, and so minimise the cost of well delivery. GEOLOG will initially target HoD within the geothermal market as well as addressing operations with narrow operating pressure windows, as part of its Drilling Solutions division.

The HoD® Continuous Circulation System offers uninterrupted bottom hole pressure management during connections. Combined with a High-Resolution Flow Rate Monitoring System, HoD® gives operators the capability to achieve the planned TD in challenging drilling environments substantially reducing operational, HS&E, and therefore financial risk.

Simone Trevisani, CEO of Drillmec, comments, “A large percentage of drilling problems are due to wellbore pressure management and related hole cleaning issues. For this reason, controlling well pressures during all phases of the drilling process is fundamental for wellbore stability, operational efficiency and so the economic success of wellbore construction. Drillmec realised that to bring the value of HoD® to the broader market within an aggressive timeframe, a strategic partnership with an independent, industry-leading services provider with global presence and reputation was necessary; the synergies with GEOLOG were perfect to this end. We believe this relationship will bring the greatest additional value to our clients.”

“We built GEOLOG as the leading independent surface logging service provider around our ability to deploy advanced technologies to the field, allowing our clients to maximise the value of their wells through optimal placement and reduction of drilling costs particularly in very challenging locations and under highly demanding conditions”, comments Richard Calleri, Vice President of GEOLOG. “We invest heavily in our own proprietary research and development, but we are also continuously looking at outside sources for innovation and complementary new technology. This agreement with Drillmec, further reinforces our ability to support our clients’ drilling efficiency while delivering increasingly challenging wells cost-effectively.”

Tags: Drillmec SpA, GEOLOG International BV, TREVI Finanziaria Industriale SpA


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