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The business's efforts have settled. By moving focus from vertical Cotton Valley wells to the Haynesville, Goodrich decreased its overall proved developed finding and development expenses from $3. 21 an Mcf of gas equivalent to $2. 38 an Mcfe from 2009 to 2010. With oil rates trading much higher than gas on a Btu equivalent basis, Goodrich likewise is targeting the oil window of the Eagle Ford Shale.

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Although these wells take skill, time, and money to strategy and construct, company authorities say they think they can achieve 50 plus percent returns on investment. Drilling wells in either play requires rigs with the right equipment, says Denney. He says leading drives are very important because they allow pumping and rotating the drill string while coming out of the hole, which is required at times for hole cleaning.

Leading drives also make the most of directional drilling performance. Drawworks that can provide at least 1,500 horsepower are likewise crucial, Denney includes. "Our company believe in high horsepower," he worries. "A 1,500-horsepower rig carries a premium over a 1,000-horsepower rig, but it speeds journeys and puts less stress on the equipment. We get our money's worth." Simply  Solution Can Be Seen Here  as the drawworks and top drive is having effective mud pumps on the rig, Denney states.

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"That horsepower is needed for mud hydraulics to keep the hole tidy, and to drive the downhole motor and other equipment. We have attained as much as 6,000-foot laterals to date, and we are targeting 9,000-foot long laterals in the near future." In most cases, it makes good sense for the rig to have the ability to skid, Denney states.

"In the Eagle Ford, if we can skid, our drilling expenses can be decreased as much as $500,000 a well," he states. Goodrich Petroleum is far from the only business that requires "high-spec" rigs with powerful leading drives, hoisting systems and pumps. According to market sources, rigs with bigger (+1,000) horse power ratings represent an approximated 60 percent of the active rig fleet.