HOUSTON, Jan. 29 /PRNewswire/ -- Weatherford International, Inc. (NYSE: WFT) announced that its Underbalanced Services' proprietary RiserCap(TM) External Riser Rotating Control Head System Prototype technology has been successfully proven in a field trial to drill in deepwater with lightweight fluids.
The trial, which was conducted in a 10,000 ft. well in approximately 1,000 ft of water, took place on the Petrobras XVII semi-submersible vessel in the Albacora Field of the Campos Basin, Offshore Brazil, as part of the Petrobras Joint Industry Project (JIP). The JIP's objective is to adopt lightweight drilling fluid equipment and techniques for use in deepwater floating drilling and in addition to Weatherford, involves several other Operating and services companies.
The RiserCap is a rotating control head system specifically designed for deepwater floating drilling rig applications. It replaces the conventional slip-joint system with a specialized Rotating Control Head (RCH) based system in order to control the pressure created in the marine drilling riser if a lightweight drilling fluid system is used on a deepwater drilling rig.
During the field trails, the RiserCap was connected to the drilling choke and surface separation system with flexible redundant hoses after being installed on top of a closed riser slip joint. The RiserCap Bowl, Bearing Assembly and stripper rubbers sealed the annulus of the well at the top of the riser, held the required pressure while drilling ahead, and its flexible flowlines handled the diverted annulus returns to the choke manifold while accommodating heave movements of the floating rig.
Preliminary field trial results for the RiserCap will be presented at the SPE/IADC Drilling Conference on Feb. 27, 2001 in Amsterdam. Further information about RiserCap and related technologies can be found on the Internet at www.ubdtechnology.com.
Houston-based Weatherford International, Inc. (http://www.weatherford.com) is one of the largest global providers of innovative mechanical solutions, technology and services for the drilling and production sectors of the oil and gas industry. Weatherford operates in over 50 countries and employs approximately 10,000 people worldwide.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning, among other things, Weatherford's prospects for its operations and the integration of recent acquisitions, all of which are subject to certain risks, uncertainties and assumptions. These risks and uncertainties, which are more fully described in Weatherford International, Inc.'s Annual, Quarterly and Current Reports filed with the Securities and Exchange Commission, include the impact of oil and natural gas prices and worldwide economic conditions on drilling activity and the demand for and pricing of Weatherford's products. Should one or more of these risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary in material aspects from those currently anticipated. SOURCE Weatherford International, Inc.
CONTACT: Christine McGee, 713-693-4362, or Don Galletly, 713-693-4148, both of Weatherford International, Inc./