Market assessment - Vibration Assisted Rotary Drilling (VARD) tools to improve drilling penetration rate and efficiency

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Vibration Assisted Rotary Drilling (VARD) technology was developed at the Advanced Drilling Laboratory at Memorial University which increases the Rate of Penetration (ROP) for rotary drilling. During drilling field trials in Fall 2014, VARD tools increased the ROP for rotary drilling from 25% to 300%, depending on the type of formations drilled and the VARD tool configuration. Under combined funding the NSERC I2I program and the Memorial University Office of the Vice President, a Market Assessment for the VARD technology is being conducted. This will evaluate the market demand for the technology and clarify options for the best means to introduce the technology into the drilling market place. This will be done through evaluation of secondary data already available in the public domain, primary research involving consultation with industry technical professional and executives, and comprehensive market synthesis of these data.