New Technology Magazine

SANTA CLARA, Calif. -- Element Six, the world leader in synthetic diamond supermaterials, has opened the world’s largest and most sophisticated synthetic diamond research and development facility. The centre will develop a pipeline of innovative synthetic diamond and related supermaterial products for customers in industries from oil and gas drilling to precision machining and electronics.

HOUSTON, Tex. -- Baker Hughes has announced the availability of a drilling fluid system that can improve drilling economics by enabling operators to manage circulating pressure more efficiently. The Baker Hughes MPRESS drilling fluid system allows operators to reduce their stand pipe pressure and apply more horsepower to the bottomhole assembly and drill bit, thereby increasing rates of penetration and decreasing non-productive time.

HOUSTON, Tex. -- BlueFire Equipment Corporation’s management team has begun making plans to capture market share in the oil and gas equipment industry as the company’s game-changing designs promise a likely paradigm shift in drill bit technology.

HOUSTON, Tex. -- Smith Bits, a Schlumberger company, has announced the release of the ONYX 360 rolling polycrystalline diamond compact (PDC) cutter. An industry first, this unique technology enables a PDC cutter to rotate 360° while drilling, significantly improving drillbit durability in abrasive formations and extending drillbit life and footage drilled per run.

Statoil and Aker Solutions have agreed to cancel the contract for category B rig hire. The contract for Cat B services was signed in April 2012, since which time supplier Aker Solutions, supported by Statoil, has worked to define and solve the technical challenges posed by the rig's subsea systems.