Halliburton Introduces First of its Kind Drill Bit Technology

HOUSTON - Halliburton (NYSE: HAL) today announced the release of Cruzer™ depth-of-cut rolling element, an innovative drill bit technology designed to increase tool face control without reducing drilling efficiency. This provides operators with the ability to increase their rate of penetration (ROP) at a lower cost per foot for improved economics.

The feature is available on Halliburton's polycrystalline diamond compact (PDC) drill bits which are designed for high abrasion and impact resistance in the most challenging formations. When Cruzer technology is incorporated, depth-of-cut control is maintained throughout the bit run. The rolling element is particularly effective in applications that require more stabilized control of the directional drilling process.

Additionally, the rolling elements' small size allows this feature to be incorporated into new or existing designs that enable easy repair of bits with Cruzer technology. Operators will realize lower friction levels and heat generation for greater efficiency and reliability.

"Cruzer is a step-change and first of its kind innovation that will complement our existing bit portfolio and provide customers with another tool to help maximize their drilling operations," said Steve Allen, vice president of Drill Bits and Services.

Halliburton drill bits are developed through a proprietary process called Design at the Customer Interface (DATCI℠) which customizes each bit for an operator's specific application. DATCI employs a global network of design specialists who are familiar with regional characteristics and collaborate with a customer for an optimized solution.

In the field, a major operator in the Williston Basin recently deployed Cruzer technology to drill a well's curve in 14 hours. This run was the fastest of any offset in the area due to reduced wear on the depth of cut elements. This allowed the operator to utilize an aggressive cutting structure with improved control and steer ability.

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With over 50,000 employees representing 140 nationalities, and operations in approximately 70 countries, the company serves the upstream oil and gas industry throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, to well construction, completion and production optimization. Visit the company's website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn and YouTube.

Downloadable Media