• September 17, 2019

Oil show booming with innovation - Odessa American: Oil News

Oil show booming with innovation

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  • "Challenger"

    Eagle Rubber & Supply invited the American Eagle Foundation to bring "Challenger," a non-releasable Bald Eagle to their booth during the second day of the Permian Basin International Oil Show Wednesday, at the Ector County Coliseum grounds. American Eagle Foundation employee Connor O'Brien was holding the eagle.

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Posted: Wednesday, October 17, 2018 5:10 pm

Permian Basin International Oil Show exhibitors said they are driving industry innovation through improved technology and new services.

Superod representative Burr Settles said that the oil field is changing, and what most attendees are interested in is horizontal drilling and fracking advancements.

Mike Elphick, business development at Pro Directional, said that horizontal drilling shaves off days in an industry where days are dollars. He estimated that in 2012 horizontal drilling was used in around 35 percent of rigs running the Basin, but said that number has shot up to about 85 percent today.

“(Pro Directional) provides the motors that spin the bit and so we stay on the forefront of technology by providing more reliable and faster drilling motors,” Elphick said. “We went from drilling 30-45 day wells down to 15-18 day wells. So we’re able to drill double the amount of wells in the same year.”

He said that even though Pro Directional is a national company, their focus has been on the Permian Basin because it is the place to be, which he said is not a secret.

“Anywhere from 60-70 different directional companies are in the Permian Basin and are trying to compete for the work that’s out here,” Elphick said. “For us, it’s more about making sure people know who we are.”

RigER CEO Michael Maltsev has a company operating out of western Canada and agreed that “everyone likes to present here (at the oil show) because everyone wants to participate in this boom.”

He said RigER is looking to further evolve the oil patch on the operations side. Maltsev said RigER provides oilfield operations management software that assists companies with equipment rentals, field tickets, invoicing and more.

“As each business is growing faster, they need a scalable solution because the traditional way of excel spreadsheets and paperwork doesn’t work – it’s not scalable,” Maltsev said.

He said that RigER helped one of their Texas clients bring efficiency and next-day invoicing to their company. Maltsev said that his company connects the oilfield to the office with a digital infrastructure that has features that clients can use on their mobile devices.

“Guys in the field can enter all information there and everything will appear in a cloud database,” he said. “It’s faster, more accurate and increases efficiency of the business. A manager can make adequate business decisions because they have all of the information at their fingertips.”

Maltsev said that his North American competitors consists of only three or four companies, but that this service is needed in the industry to help ease the operational strain that many businesses have experienced.

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