R devel - May 2006 - CT unit to drill on Mars, Revenue Up 200% - Ref. jh010 (PR#8918)

esteeming
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.
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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
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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. cosmogonical
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."  avenging
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. lonesomeness
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. scorify
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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. preadapt
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. god
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. gyros
exceed
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. lymphatolysis
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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."
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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.
stalkers
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 (Figure 1). recompose
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.
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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."
lepromata
banishers
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. lysate
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GROWTH OF THE service 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.
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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. tanagers
There is less visual impact as the units are small with no large derrick tower.
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disuniters
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. haystack
trailingly
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. pomiferous
obtuseness
For more information on CTBG, please visit Yahoo Finance - CTBG  phthisiotherapy
href="http://finance.yahoo.com/q?s=CTBG.PK
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