Helmerich & Payne announces formation of Helmerich & Payne Technologies
Helmerich & Payne announced it has formed a new business entity, H&P Technologies, that will be used to drive development of advanced technologies and directional drilling automation solutions, resulting in greater reliability and well performance.
“H&P’s longstanding focus on leading-edge technology is an important part of our organization and will be even more critical in the future,” John Lindsay, Helmerich & Payne President and CEO, said. “Our new business entity, H&P Technologies, will help meet the needs of the industry. As longer laterals are drilled, accurate well placement is crucial in maximizing field economics. A key benefit of our performance-driven drilling services is the reduced positional uncertainty in the directional drilling process and the fact that our technology can be used on any rig, regardless of the drilling or service provider.”
The company also announced it has acquired Angus Jamieson Consulting (AJC), a software-based, training and consultancy company based in Inverness, Scotland.
“The combination of Magnetic Variation Services geomagnetic correction capability, MOTIVE’s unique directional drilling technology and AJC’s software expertise creates a powerful platform that generates a compelling value opportunity for E&P companies,” Todd Benson, President of H&P Technologies, said. “H&P Technologies’ Value Driven Automation platform offers a unique and desirable service that brings directional drilling accuracy to a new level in the oil and gas industry.”
AJC is widely recognized as an industry leader in wellbore positioning and provides software and in-depth training for clients. The skills and talents of AJC will accelerate capabilities to deliver future, value-driven automation.
MOTIVE’s proprietary Bit Guidance System is the industry leader in the use of cognitive computing to guide the directional drilling process. This algorithm-driven system considers the total economic consequences of directional drilling decisions and has proven to consistently lower drilling costs through more efficient drilling and increase hydrocarbon production through smoother wellbores and more accurate well placement.
MagVAR’s comprehensive 3D geomagnetic reference modeling provides measurement while drilling (MWD) survey corrections by identifying and quantifying MWD tool measurement errors in real-time, greatly improving directional drilling performance and wellbore placement.