Weatherford enters Secure Drilling joint venture

Weatherford has acquired 50% interest in the Secure Drilling joint venture.

Offshore staff

HOUSTON -- Weatherford has acquired 50% interest in the Secure Drilling joint venture. Secure Drilling is now a 50/50 joint venture of Weatherford and Impact Solutions Group Ltd.

Secure Drilling offers a managed pressure drilling system designed to improve drilling efficiency, enable drilling of high pressure and complex wells, and enhance safety. The Secure Drilling System, using micro-Flux Control Technology, provides a change in the accuracy of measurement and analysis of flow and pressure data, the company says. The system allows drilling decisions to be made based on actual data versus predicted downhole environments, providing real-time monitoring of wellbore parameters.

Through this arrangement, Weatherford and Secure Drilling are now able to offer a full suite of MPD technology to address challenging wells and associated drilling hazards.

02/19/2009

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