ExxonMobil Awards License for Efficient Drilling Technology to Pason Systems
February 10 2017 - 9:00AM
Business Wire
- Technology builds on company’s
efficient Fast Drill™ technology using real-time monitoring
- Drilling performance improved at nine
fields
ExxonMobil has awarded to Pason Systems, Inc. the first global
license of its patented Drilling Advisory System™, a key component
of the company’s Fast Drill™ technology suite. The licensing
agreement accelerates the technology’s commercialization by
combining Pason’s expertise in drilling data and ExxonMobil’s
experience in drilling surveillance and optimization.
Fast Drill combines high-end modeling of drilling physics with
structured well planning and design to identify limiters and
maximize performance. ExxonMobil’s drilling rate has improved more
than 80 percent since introducing the Fast Drill process more than
a decade ago. The Drilling Advisory System automates and enables
implementation of the Fast Drill process in real time on the rig
floor by integrating ExxonMobil proprietary modeling with data
analytics. Use of the Drilling Advisory System has thus far
improved ExxonMobil’s drilling performance at nine fields.
“Energy producers today are looking for any opportunities to
improve operational efficiency and reduce costs,” said Tom
Schuessler, president of ExxonMobil Upstream Research Company. “The
drilling advisory system component to our efficient Fast Drill
technology provides such an opportunity by enhancing monitoring and
improving drilling performance, thus reducing costs.”
ExxonMobil’s Fast Drill process has resulted in an annual energy
savings equivalent to removing 1,200 cars from the road. The
additional reduction in fuel consumed translates to a proportionate
decrease in emissions.
“The deployment of ExxonMobil’s Drilling Advisory System extends
our portfolio of technologies that can significantly improve the
efficiency and effectiveness of drilling operations,” said Marcel
Kessler, president and CEO of Pason. “We have enjoyed working with
ExxonMobil through the development and field demonstration phases
of this project. This license is the culmination of that hard
work.”
About ExxonMobil
ExxonMobil, the largest publicly traded international oil and
gas company, uses technology and innovation to help meet the
world’s growing energy needs. We hold an industry-leading inventory
of resources and are one of the largest integrated refiners,
marketers of petroleum products and chemical manufacturers. For
more information, visit www.exxonmobil.com or follow us on Twitter
www.twitter.com/exxonmobil.
About Pason Systems, Inc.
Pason Systems Inc. is a leading global provider of specialized
data management systems for drilling rigs. Our solutions, which
include data acquisition, wellsite reporting, remote
communications, and web-based information management, enable
collaboration between the rig and the office. Pason’s common shares
trade on the Toronto Stock Exchange under the symbol PSI. For more
information, visit www.pason.com.
Cautionary Statement: Statements of
future events or conditions in this release are forward-looking
statements. Actual future results, including efficiency gains and
other impacts of new technologies, could vary depending on
operating conditions and other technical and operating factors;
development of competing technologies; and other factors discussed
in this release and under the heading “Factors Affecting Future
Results” on the Investors page of ExxonMobil’s website at
exxonmobil.com.
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