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Good Vibrations: HDD Industry Riding Out Recession Better Than Other Market Niches
12th Annual HDD Survey
A typical HDD contractor in 2009 carried a fleet valued at $1.2 million, drilled 29,666 feet for the year and pulled in product pipe that averaged eight inches in diameter. The value of a contractor’s walkover locating equipment was $38,902, wireline systems $101,800, and other types of tracking equipment was valued at $55,333. Contractors owned an average of $82,531 in downhole equipment such as tools, reamer and mud motors.
Contractors also reported that they try to replace mini rigs every 3,000 hours of use, mid-sized rigs every 5,100 hours and large rigs get at least a major overhaul every 5,300 hours.