Workrise has announced an exclusive licensing agreement to bring Shell’s U-lateral drilling technology to energy companies across the U.S.
Developed by Shell, U-lateral drilling offers significant benefits for an industry where efficiency is more important than ever before. By enabling rigs to drill more reservoir footage per month, reducing both the cost per foot of reservoir accessed and the cost per barrel of oil produced, the U-lateral technique allows operators to reduce drilling costs and save time while effectively increasing the production capacity of each surface rig by 50%. The technology also unlocks access to previously stranded acreage, allowing energy companies to maximize their land use and reduce their environmental impact compared to traditional well designs.
“As the leading source-to-pay solution for the energy industry, Workrise is uniquely positioned to bring this innovative technology to market,” said Adam Hirschfeld, Senior VP at Workrise. “Operators can now license U-lateral drilling from Workrise on a per-well basis, with seamless integration into their existing purchasing workflows. Our team will handle all program contracts and administration, making it easy for energy companies to leverage this technology as part of their operational strategy.”
The exclusive licensing agreement is the latest addition in an expansion of Workrise’s offerings.
“We’ve been steadfastly committed to helping energy companies work more efficiently in a challenging and fast-changing world,” said Hirschfeld. “With the addition of cutting-edge technology licensing to our suite of services, we’re taking that commitment to the next level.”
