HOUSTON, May 2 /PRNewswire-FirstCall/ -- Weatherford International Ltd. (NYSE: WFT) today announced that it has now installed 225 of its innovative Expandable Systems in wells around the world.
The 225th installation was done for a major operator in the Niger Delta. Job specifics include the deployment and expansion of 18 joints of 4-inch Expandable Sand Screen (ESS(TM)) in a 6-inch hole to a total depth of 10,985 feet. The job was completed in less than two days and early indications show that production rates exceeded considerably the client's expectations. This installation also added a new operator to an already broad base of ESS users.
Stuart Ferguson, Senior Vice President & Chief Technology Officer, said, "Our track record of 225 installations in a wide range of applications demonstrates our leadership in this market segment. It also verifies the growing adoption of ESS as a reliable, high-productivity, sand control method. It is notable that during the first quarter of 2003, we installed more ESS jobs than during any other quarter in the history of the system."
In addition to ESS, Weatherford's range of commercial expandable technologies includes MetalSkin(TM) -- the unique metal-to-metal casing repair and remediation method; and well construction systems such as Alternative Borehole Liners and Expandable Liner Hangers. Commercialization of "mono- diameter" open hole liners will commence later this year.
Weatherford is the global leader in Expandables, with over 22 miles installed to date, including the world's longest ESS at more than 7000 feet. Proven benefits of ESS include productivity improvements of up to 70%, compared to alternative sand control methods, and cost reductions of more than 20%. In addition, compliant expansion can eliminate the annulus around the sand screen, support the borehole, and stabilize the near wellbore region.
Weatherford 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 100 countries and employs more than 15,000 people worldwide.
For further information contact: Houston: Don Galletly (713) 693-4148 don.galletly@weatherford.com Aberdeen: Liz Paddon 44 (0) 1224 225 269 liz.paddon@weatherford.comSOURCE Weatherford International Ltd.
CONTACT: Don Galletly, +1-713-693-4148, or don.galletly@weatherford.com , or in Aberdeen, Liz Paddon, +44-0-1224-225-269, or liz.paddon@weatherford.com , both of Weatherford International Ltd.