Ulterra Bit Sets Record in the Granite Wash

FORT WORTH, Texas, Jan. 30, 2012 /CNW/ - A new 12.25-inch U616M, six-blade matrix PDC bit with 16mm cutters recently set a Roger Mills County footage record in western Oklahoma. The Ulterra bit drilled 7,065 ft. from surface casing down to a depth of 8,115 ft., saving the operator an estimated $44,500 versus the closest offset and $88,500 versus the average of five offset wells.

(Photo: http://photos.prnewswire.com/prnh/20120130/DA43621)
(Logo: http://photos.prnewswire.com/prnh/20110906/DA62410LOGO)

This generation U616M is the result of extensive bit design and cutter testing in the Granite Wash play. "A unique cutting profile along with the latest cutter technology gives the bit unmatched durability in transitional drilling," says Ryan Wedel, Ulterra Applications Engineering Supervisor. "This allows the bit to maintain a high rate of penetration throughout the interval in a variety of interbedded formations." The U616M has set multiple footage records in the Granite Wash play.

Ulterra is a leading provider of premium PDC drill bits and downhole tools for the oil and gas industry. Ulterra's strength resides in the experience and wisdom obtained from industry veterans, designing high-quality, high-performance PDC bits for global markets. Its localized focus enables Ulterra to respond quickly to customers' specific applications with customized solutions.

CONTACT:
Justin McMillan
Director Bus. Development
817-551-9711
jmcmillan@ulterra.com

Operations
www.ulterra.com

SOURCE Ulterra

Image with caption: "12.25" Ulterra 616M PDC Bit (CNW Group/Ulterra)". Image available at: http://photos.newswire.ca/images/download/20120130_C7588_PHOTO_EN_9389.jpg

For further information:

http://www.ulterra.com

http://photos.prnewswire.com/prnh/20120130/DA43621

http://photos.prnewswire.com/prnh/20110906/DA62410LOGO

AP PhotoExpress Network: PRN14

PRN Photo Desk, photodesk@prnewswire.com

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