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indisputable Coiled tubing units are so compact and have such great potential, the Mars Drilling Project is evaluating a coiled tubing unit to drill for water on Mars. kama gallop SPRING, TX--(MARKET WIRE)-- Coil Tubing Technology, Inc. (CTBG) announces the delivery of the first group of 8 Rotating Tools to oil and gas well service companies operating in Mexico and Oklahoma. Designed for use in "fishing" applications utilizing 2" coiled tubing strings, these tools were delivered and "in the field" the week of May 1, 2006 reconstructing wallpapers In addition, CTBG has received orders for ten more of these 2 7/8" Rotating Tool units, plus five 2 1/8" Rotating Tools, all of which are scheduled for delivery to customers before the end of the month of May. adenylic CTBG offers the only fully rotating tool for well fishing applications," stated Jerry Swinford, President of Coil Tubing Technology, Inc. "Other tools in the marketplace only 'index' or 'turn' in 90 degree increments without fully rotating, which is an inefficient means of latching a fish. We are delighted by the overwhelming response from customers regarding the capabilities of these tools." postboxes The Rotating Tool is a device that attaches to the end of a coiled tube to assist with "latching a fish," or removing production kits or undesired obstructions from the well by introducing rotation under mechanical pressure. The design and action of the tool is similar to a "Yankee screwdriver." If, for example, during normal operations, a piece of coiled tube is broken off and remains lodged in the wellbore, it can be difficult to get the new coiled tubing line past the obstruction. By introducing rotation to the "overshot," or latching mechanism at the end of the tool, obstructions can be cleared without the need to manually work the tool through the well head. eggs Coil Tubing Technology was established in 1998 by an innovative founder that has over thirty years experience in the design of oil-field tools in general and fifteen years of experience in the design of proprietary tools for the coiled tubing industry in particular. With more than fifteen patents either granted or pending, CTBG is the leader in providing new technology to the coiled tubing industry. CTBG has become a one stop rental tool company supplying a full line of standard as well as propietary coiled tubing downhole tools. foam fenestrate COILED TUBING DRILLING TOOLS The Jet Motor maximizes torque and RPM combinations. This motor has the capability to establish bit hydraulics. The long life bearing package allows the tool to stay in the hole longer than average. It can be jarred without damaging the tool which is ideal for drilling through shale. The Jet Motor has been used successfully with MWD and steering tools in drilling applications. The nitrogen power source permits underbalanced drilling. imprudently The Pulsator allows the weight on the bit to be maximized without stalling the motor as the torsional and axial torque are retained within the tool. The maximum tensible strength allows high energy jarring impact while the tool prevents spike loading from migrating up into the generic tool strings. perambulating The HeavyHitter, when used on the upstroke only, provides variable tensible overpull due to its hydraulic metered detent system. The minimum axial drag at detent release provides high velocity of the hammer mass to the anvil. stonecutter lingo THE COIL TUBING BUSINESS The coiled tubing industry continues to be one of the fastest growing segments of the oilfield services sector, and for good reason. CT growth has been driven by attractive economics, continual advances in technology, and utilization of CT to perform an ever-growing list of field operations. Coiled tubing today is a global, multi billion dollar industry in the mainstream of energy extraction technology. jute ingurgitation FUTURE TRENDS IN COIL TUBING SERVICES According to Andy Rike, President of Technicoil USA Corp., a CT service company with operations in Canada and the US, "We see market growth for coiled tubing services to independent producers in three areas: fracturing, particularly multiple interval completions; re-entry drilling of horizontal laterals or vertical extensions in older wells; and "grassroots" drilling of shallower wells, including many coalbed methane wells." covets Rike adds that one of the most important reasons for growth of coiled tubing drilling services has been the development of more integrated units. "In past years, coiled tubing units were not able to provide the sort of integrated set of equipment capabilities needed for drilling and completion operations. This led to an amalgamation of service company systems cobbled together on site and a situation where the safety, speed and size advantages of CT were being lost." Now, Technicoil as well as a few other companies have designed and built integrated CT units that incorporate everything needed to drill a well into four trailer loads. When rigged up these units fill a 20,000 sq ft footprint, less than 1/3 the size of a conventional rig. These newer units can also drill with conventional pipe, so they can drill a surface hole and set surface pipe with conventional equipment and then drill with coiled tubing. aggregated In addition to the small footprint, the primary drivers for wider use of these units are very tight control of well discharges and speed. "We've drilled 400 feet per hour in some situations," says Rike. The combination of a smaller hole, lack of connections, faster trip time, and the higher drilling rates inherent to downhole motors leads to very rapid drilling rates. Last year, in the San Juan Basin of New Mexico, Technicoil drilled 26 wells to around 3000 feet for Burlington Resources over a four month period with one standard CT system (Figure 1). underpowered Another area of growth is in fracturing, particularly multiple interval fracturing. One recent example is a five well project in Virginia's Buchanan County where as many as nineteen intervals were fractured using coiled tubing and a bottom-hole packer assembly (Rodvelt, 2001). These wells, part of a CONSOL Energy Inc. coalbed methane project, were part of a pilot to determine if individually fracturing each of the zones would result in better recovery. Prior efforts had evolved from single-stage, limited entry treatments to multiple-stage treatments with composite frac plugs and frac baffles. heedlessly Core tests on offset acreage had revealed that 3 of 10 coal seams had not been stimulated by these treatments and, on average, ten feet of coal was not being effectively stimulated. If the CT fracturing approach is successful in improving this situation, CONSOL calculated that an additional net present value of 1 million could be added per 160-acre lease, based on a gas price of 2.50. The CT fracturing procedure was a technical success, and hopefully, when the wells are dewatered and fully evaluated, it will be shown to be an economic success as well. Other CBM areas have seen similar success. For example, Barrett Resources experienced a 1.5 fold increase in gas production from 14 CBM wells in the Raton Basin following stimulation with coiled tubing versus conventional treatments. "Fracturing is probably the area with the greatest growth potential," says Rike, "and coalbed methane is about a third of that market." wink ablatively NEW COIL TUBING MARKETS / FIELD APPLICATIONS CT first established it's niche in the marketplace as a cost-effective well cleanout tool. In recent years, these conventional wellbore cleanouts and acid stimulation jobs accounted for more than three quarters of total CT revenue. However, CT use has continued to expand as it is adopted for use in additional field operations. Most recently, CT fracturing and drilling applications have emerged as two of the fastest growth areas. Revenue from these two CT applications has grown from almost zero 10 years ago, to approximately 15 percent in more recent times. rumens dissentients GROWTH OF THE SEVICE FLEET In January 2004, slightly more than 1,050 CT units were estimated to be available on a worldwide basis. The total number of working CT units is up sharply from the roughly 850 units reported in February 2001. At present, the International market accounts for the bulk of the currently available CT fleet with more than 425 units. Canada and the U.S. are estimated to contribute an additional 239 and 253 units, respectively. tutti THE ENVIRONMENTAL AND SAFETY BENEFITS OF USING COILED TUBING UNITS FOR DRILLING INCLUDE: The units require about half the space that a conventional drilling rig requires. The units require less power so there is less fuel consumption and emissions during drilling. Noise levels are 18 percent lower than with conventional rigs. elitism There is less visual impact as the units are small with no large derrick tower. rebroadens mutualist All of this means that coiled tubing units are more cost effective, energy efficient, have a much smaller environmental footprint, and create less waste. In certain drilling operations, coiled tubing units cost approximately half of what a conventional drill rig would cost. pseudokeratin codenames In fact, coiled tubing units are so compact and have such great potential, the Mars Drilling Project is evaluating modifying, miniaturizing and fully automating a coiled tubing unit to drill for water on Mars. Realistically, it will be years before the unit is developed and sent to by rocket to Mars, but it would be an important first step before Mars could be colonized. And coiled tubing technology will be be greatly improved by the research. uglier phagomaniac For more information on CTBG, please visit Yahoo Finance - CTBG nucelli href="http://finance.yahoo.com/q?s=CTBG.PK chicago The BottomLine Report is not liable for any decisions by its readers or subscribers. The information contained herein has been provided as an information service only. wiping The BottomLine Report purchased 270,000 shares at 0.15. We may close our positions at any time. wide henceforwards
