Weatherford Snaps Up Secure Drilling

Weatherford has completed its purchase of Secure Drilling. This follows the January 1, 2009 announcement that it had entered a joint venture agreement with Impact Solutions Group Ltd for a 50 percent interest in Secure Drilling.

The combination of Secure Drilling's patented Micro-Flux technology and Weatherford's managed pressure drilling (MPD) systems and expertise offer the industry a unique and essential solution. The combined offering will help overcome the obstacles and hazards that are severely limiting the industry's capabilities to successfully complete drilling projects that would otherwise be technically or economically un-drillable.

"Bringing these two groups together offers clients more precise wellbore pressure management," said Mark Mitchell, Group Vice President, Drilling Hazard Mitigation. "The combination of Secure Drilling's superior MPD systems with Weatherford's industry-leading Controlled Pressure Drilling® technologies and extensive line of first-in-class rotating control devices further extends our place as the MPD global provider of choice."

Weatherford offers clients access to one of the industry’s largest global footprints, including a broad infrastructure and robust engineering resources. The company's distribution network will accelerate the global deployment of this advanced, field-proven technology.

Secure Drilling's industry-leading managed pressure drilling system is designed to improve drilling efficiency, enable drilling of high pressure and complex wells, and enhance safety. The system's Micro-Flux Control technology provides a revolutionary change in the accuracy of measurement and analysis of flow and pressure data. In turn, drilling decisions can be made based on actual data versus predicted downhole
environments, providing real-time monitoring of wellbore parameters.