HOUSTON, April 21, 2020 – Weatherford International plc (OTC Pink: WFTLF) today announced its Vero™ automated connection integrity has successfully completed 100 runs and 33,000 tubular connections in operations worldwide since its market debut. Vero applies artificial intelligence to minimize safety risks and validate well integrity from the wellhead to total depth.
Since its launch in November 2018, Vero has delivered measurable value to producers around the globe. Notable real-world results include:
- Offshore Qatar: Pulled the completion string in two wells and enabled 75% more pipe to be re-used than benchmark after automating the connection breakout process.
- North Sea: Made up more than 1,200 completion connections while achieving a record run rate.
- Offshore Azerbaijan: Ran seven completions with more than 2,900 connections and zero connection damage.
- Argentina: Saved 24 hours of rig time on more than 1,000 connections with zero damaged in completions for three wells.
- Norway: Improved previous mechanized operational performance by 15 percent, resulting in the fastest liner-running operation on that rig in four years.
- Globally: Eliminated more than 10,000 hours of personnel exposure to rig floor safety risks.
“Vero is the most disruptive technology ever introduced in the tubular running space and operators around the world are taking notice and benefitting from the exceptional value,” said Dean Bell, President, Drilling, Evaluation and Intervention, Weatherford. “By replacing the inherent flaws of human judgment with AutoMakeup and AutoEvaluate technologies, Vero goes beyond tubular running to help operators build wells that last a lifetime.”
By applying artificial intelligence at every stage from pipe manufacturing to well installation, Vero improves connection make up efficiency and eliminates the inevitable errors associated with human judgement during the connection process. In doing so, the solution can minimize the chance of catastrophic well failures associated with poorly made up connections, significantly reduce the total cost of well ownership, minimize safety risks, and protect corporate reputation.
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Weatherford is the leading wellbore and production solutions company. Operating in more than 80 countries, the Company answers the challenges of the energy industry with its global talent network of more than 20,000 team members and 610 locations, which include service, research and development, training, and manufacturing facilities. Visit www.weatherford.com for more information or connect on LinkedIn, Facebook, Twitter, Instagram, or YouTube.
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