August 29, 2014 8:07 PM ET

Energy Equipment and Services

Company Overview of Ulterra Drilling Technologies, L.P.

Company Overview

Ulterra Drilling Technologies, L.P. provides PDC drill bits for drilling markets worldwide. It offers steel and matrix PDC, torkbusters, and trugauge products. Ulterra Drilling Technologies, L.P. was formerly known as RBI-Gearhart and changed its name to Ulterra Drilling Technologies, L.P. in October 2005. The company was founded in 1927 and is based in Fort Worth, Texas. As of August 31, 2012, Ulterra Drilling Technologies, L.P. operates as a subsidiary of ESCO Corporation.

420 Throckmorton Street

Suite 1110

Fort Worth, TX 76102

United States

Founded in 1927

Phone:

817-293-7555

Fax:

817-293-3797

Key Executives for Ulterra Drilling Technologies, L.P.

President
Chief Financial Officer
Chief Operating Officer
Treasurer
Secretary and Controller
Compensation as of Fiscal Year 2014.

Ulterra Drilling Technologies, L.P. Key Developments

Ulterra Introduces High ROP PDC bit

Ulterra announced the availability of PDC bits incorporating the next generation FastBack technology. Unlike traditional PDC bits, FastBack designed bits utilize a unique blade configuration that supports the cutters in a minimalist fashion. Its smaller profile eliminates wasted energy pushing a bit's blade surface, focusing all energy on the diamond cutting surfaces. This efficiency improvement is already paying operators dividends where a Fastback bit drilled a Marcellus well 56.8% faster. The FastBack's new innovative blade design is possible due to advanced surface coatings which provide maximum erosion control without sacrificing strength. Additionally, The FastBack's smaller blade configuration opens up the junk slot area for optimal hydraulics and enhanced cuttings evacuation.

Ulterra Introduces CounterForce(TM) PDC Bit Technology

Ulterra announced the introduction of CounterForce, a bPDC bit design technology that utilizes a cutter configuration that lowers bit torque and vibration, thus creating more efficient failure of rock. Unlike traditional PDC bits, the cutters of this patent-pending, step-change advancement in new PDC technology work together to lower lateral vibration and increase crack propagation. The CounterForce cutting structure is engineered to slice through rock while maintaining a more consistent torque signature thus increasing stability and ROP. CounterForce technology improves drilling efficiency and is being incorporated into many Ulterra PDC designs. Early field runs have shown CounterForce-designed U519M bits drilling with improved toolface control and sliding ROP. In an Eagle Ford tangent drill-out interval, a CounterForce bit set a rig ROP record drilling 41% faster than the closest offset, saving the operator 15 hours and $50,000. In a Permian Basin Wolfcamp lateral, a CounterForce run finished the lateral a dramatic 42% faster ROP than direct offsets, saving the operator an entire day of drilling. Hundreds of field tests, drilling nearly a million feet in multiple applications and plays across North America, validate that CounterForce technology consistently reduces torque and vibration problems and improves directional performance and dull conditions.

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