Flexing financial muscle: Cordax’s LWT solution reduces Extra Rig Time from days to hours

Permian Client saves five figures on one well while extracting quality data

Extra Rig Time. It’s a term that makes the field bosses and the CFOs flinch. And, frankly, it kills a lot of data acquisition activities.

In today’s market, the spread cost for drilling operations—rig time, fuel, field salaries, associated rentals and services equipment—can be anywhere from $50,000 to $75,000 a day.

Now, imagine if gathering your formation evaluation data took hours, not days.

Because that’s what Cordax’s Logging While Tripping (LWT) solution can offer—in stark contrast to through-the-bit or shuttle-based logging services, which can burn up whole days of very expensive Extra Rig Time in addition to service charges.

In November 2018, Cordax’s LWT technology was employed by a major drilling and production company in the oilfields of West Texas. 

Per Cordax standard procedure, upon reaching total depth (TD), Cordax’s logging tools were pumped down into the Cordax collars and triple combo logging commenced.

The operational log record read as follows:

  • Total rig time typically used to log was 24 to 36 hours; LWT required just 2.3 hours of extra dedicated rig time;

  • No time was required to:

    • condition hole;

    • trip out 13,500 feet; and

    • run in 13,500 feet with specialty logging bottom-hole assembly (BHA)

  • At TD, the LWT logging procedure started—with 2 hours to rig in, pump down and start logging;

  • The 7,000-foot logging interval was tripped out in 5.3 hours total, with the LWT logging speed only adding 2.3 hours.

As veterans of the drilling game know, the ultimate cost on your Authority For Expenditures (AFE)—spread cost plus logging charges—is the pertinent number. Measured in hours, not days, it means massive cost savings.

In terms of quality open-hole logging measurements, a recently presented Society of Petroleum Engineers case study found Cordax’s LWT technology to be equivalent to conventional open-hole wireline (WL) data, with porosity measurements showing better reliability than logging while drilling (LWD) operations.

Cordax’s LWT solution is also ideal in scenarios where logging was previously thought impossible or uneconomical—including horizontal or highly deviated wellbores, regardless of hole condition.

And in this case, to top it all off, Cordax’s LWT solution meant five figures’ worth of client cost savings on that one West Texas well.

Because when your “win-win” includes a victory on the bottom line, even your CFO will crack a smile.