Oxy has a proprietary, physics-based approach to well development that it calls Oxy Drilling Dynamics, which improves drilling rates, lowers well costs and reduces inefficient rig energy in its global operations. It has been tested in the Middle East with favorable results, and may be applied to the US Gulf, Burgher said.
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“We reduced our drilling costs in the Middle East by 30% using Drilling Dynamics,” he said. “We think we can bring some of that technology to improve [operations in] the Gulf of Mexico.”
Oxy’s presentation to investors Oxy has now set its sights on driving efficiencies from both the Permian and the US Gulf, as well as whittling down costs, Burgher said.
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