Reuters logo
Eurasia Drilling sees horizontal drilling up 50 pct in '13
January 23, 2013 / 11:06 AM / 5 years ago

Eurasia Drilling sees horizontal drilling up 50 pct in '13

MOSCOW, Jan 23 (Reuters) - Eurasia Drilling expects its volumes of horizontal drilling, key to Russia’s ability to tap increasingly tight oil reserves and sustain output, to increase by as much as 50 percent in 2013 after a small decline in 2012, its CFO said.

“It stayed basically flat in 2012,” Richard Anderson said by telephone after Russia’s largest driller issued a trading update showing 26.6 percent growth in total drilling but a 1.9 percent decline in horizontal drilling.

“Clients said they wanted to sit back and assess the results of the horizontal drilling they had done in 2011. In 2013 they plan to do considerably more horizontal drilling.”

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below