Joint Industry Project proposed to commercialize novel deepwater, single-trip casing drilling tool for drilling and cementing 36-in. structural casing

New approach replaces jetting to deepen structural casing based on fracture gradient; builds on proven,casing-drilling technology,and creates a more favorable wellbore geometry to more frequently meet well objectives.

HOUSTON,May 2,2022 -- Subsea Drive Corporation,in conjunction with Blade Energy Partners and Frontier Oil Tools,is proposing a Joint Industry Project (JIP),to initiate development and commercialization of a new approach to deepwater casing design.

"We felt the optimal approach for introducing this technology to deepwater operators was a JIP presenting the technology to the key players at a single venue," said Steve Rosenberg,Subsea Drive chief technology officer. "Over the past decade,we have authored several papers and industry articlesreceiving positive feedback from deepwater experts. We see the potential to completely replace a traditional process with something far more effective,efficient,and safer."

This approach eliminates a major deficiency of deepwater well design: shallow setting depth of structural casing,being restrained by jetting technical limitations.

Subsea Drive uses proven casing-drilling technology to replace jetting taking advantage of the rapid increase in the shallow fracture gradient. They are building a 36-in. casing-drive to enable drilling in a full string of 36-in. casing,or a tapered 36 x 28-in. string,to depths based on the fracture gradient,of 1,500 ft or more below the mudline. "This single-trip casing drilling systemwill eliminate one or two riserless casings,mitigate shallow hazards,push the high-pressure wellhead casing deeper,and enable favorable well geometry for expansion of the drilling operating pressure windows at deeper depths,providing a better opportunity for a successful outcome," added Jim Wakefield,Subsea Drive VP of engineering and well construction.

A meeting of prospective candidate participants,including E&P operators,drilling contractors,OEM equipment suppliers,service companies,regulatory organizations,and industry societies will be held June 29,2022 at the Norris Conference Center,at City Centre,Houston,Texas. Contact Subsea Drive for event and registration details.

About Subsea Drive Corporation:

Subsea Drive Corporation was formed in 2021 to commercialize innovative well engineering and drilling technology concepts created by a core team of oil and gas industry experts with many years of broad and deep upstream experience.

For more information,contact:

Steve Rosenberg

s.rosenberg@subseadrive.com

713-449-4211