HOUSTON, Jul 9, 2003 /PRNewswire-FirstCall via COMTEX/ -- Weatherford International Ltd. (NYSE: WFT) today announced that it has achieved the major milestone of 200 installations worldwide of its leading Expandable Sand Screen technology.
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The 200th installation was recorded in the North Sea, where 11 joints of 4-inch ESS were successfully expanded in a 5-7/8 inch open hole to a TD of 9,955 feet. Early indications are that production rates have considerably exceeded expectations, with reservoir completion showing zero skin. This installation is part of a wider gas field development, where ESS has already been successfully installed.
Nicholas Gee, Vice President for Expandable Sand Screen said, "Weatherford is the global leader in the commercialization of Expandable Sand Screen technology, with over 200 successful installations worldwide to date in a wide range of applications. This amounts to over 25 miles, including the world's longest run of ESS at 7,030 ft."
"Worldwide, more and more customers are recognizing the productivity improvements and cost reductions that ESS can offer, compared with traditional sand control methods. Typically well costs have been cut by over 20%, and productivity increased by up to 70%. A key benefit of Weatherford's Expandable Sand Screens is the ability for them to be expanded compliantly, eliminating the annulus and supporting the wellbore," Gee said.
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 approximately 16,000 people worldwide.
For further information contact: Don Galletly (713) 693 -4148 don.galletly@weatherford.com Christine McGee (713) 693- 4362 christine.mcgee@weatherford.comSOURCE Weatherford International Ltd.
Don Galletly, +1-713-693-4148, or don.galletly@weatherford.com , or Christine McGee, +1-713-693-4362, or christine.mcgee@weatherford.com , both of Weatherford International Ltd.