Increasing drill pad efficiencies should bode well for demand
even as rig counts stagnate, according to oilfield services
provider Halliburton Co.
"We are now expecting
the rig count to remain relatively flat for the remainder of
the year as we absorb a meaningful switch to multiwell pad
activity among our customer base," chairman, president and
chief executive officer Dave Lesar said during the
Houston-based companys second-quarter conference call.
"We believe this incremental drilling efficiency gains will
provide for higher service intensity." He said that multipad
drilling, which increases the number of wells drilled per
operational rig, now makes up about 50 percent of U.S.
"In spite of
relatively flat sequentially U.S. rig count, drilling
efficiencies (and) the trend towards multiwell pads are driving
a more robust well count," executive vice president and chief
operating officer Jeff Miller said during the conference call.
Pad sizes are increasing, "driving more efficiency and more
Pipe and tube
executives have said that increasing wells drilled per
operational rig are spurring demand even with rig counts well
below last years levels (
amm.com, Feb. 5).
The U.S. drill rig
count stood at 1,770 last week, down from 1,935 a year ago,
according to Baker Hughes Inc.