Honghua, China’s biggest exporter of drilling rigs, says its new integrated drilling system can save drillers at least 10% of their well costs. It would also nearly eliminate the need for onshore gas flaring and would reduce per-well carbon emissions by about 226 tonnes – good news for drillers and operators facing impending federal regulations on shale-well emissions.
The Sichuan-based company developed the technology over the past two years in China and is now looking to market it in the US, where decade-low natural gas prices could make it an attractive option for drillers paying as much as eight times more for diesel fuel than they would for gas.
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