Continuous improvements in drill bit design and performance are driving an ongoing revolution in drilling efficiency in horizontal resource plays. Oil and gas companies are setting rate of penetration records while drilling in single runs sections that very recently required multiple bits and trips. Combined with pad drilling and advances in rigs and other downhole technologies, the net result is that operators are drilling longer-lateral wells in half the time and at half the cost. Bit designers say their latest solutions will continue to move the drilling efficiency needle and improve well construction structural costs. The latest systems include PDC bits that automatically adjust depth of cut, steel body PDCs for abrasive formations, and hybrid designs that offer a roller cone’s steerability with a PDC’s speed. Meanwhile, new cutter shapes and layouts are enabling bits to drill faster and farther. Download the PDF to read more.