The drilling industry has seen a significant slowdown in the last quarter. With WTI Crude price struggling to stay above the $60 per barrel, drilling companies are experiencing a slow pace of recovery. This lean period forced drillers to cut costs to a bare minimum and look for innovative ways to churn out more oil and gas. Impressively, companies have managed to improve drilling techniques thus speeding up the pace for the well completion.
More and more drilling operations are using spud rigs to accelerate the drilling in shale formations in N.D and Texas. Sometimes these Rigs get miss reported as an overall drilling rig, while it is just a spud rig, A Spud Rig drills most times just below the water table.
A Top Hole Drilling Rig. Spud Rig.