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Exploration diamond drilling differs from other geological drilling (such as Reverse Circulation (RC) Drilling [3]) in that a solid core is extracted from depth, for examination on the surface. The key technology of the diamond drill is the actual diamond bit itself. [4] It is composed of industrial diamonds set into a soft metallic matrix.
In 1970, Diamond M became a public company via an initial public offering. Twelve years after being acquired by Kaneb Services for $102 million, [3] the firm was sold for $48.5 million to Loews Corporation in 1989. [4] In 1992, Diamond M Corporation acquired ODECO from Murphy Oil for $358 million. [4] Shortly thereafter, Diamond M Corp. briefly ...
In 1953, the company was founded by Alden J. "Doc" Laborde, who also founded Tidewater, and John Hayward. Hayward was the builder of the Barnsdall rig and holder of the patent on submersible drilling barge methodology. Charles Murphy Jr. of Murphy Oil invested $500,000 in the company and assisted Laborde in finding additional investors. [1]
In the 1960s and 1970s, Longyear began to diversify into other areas beyond traditional mineral exploration drilling. The company began using diamond bits for drilling and sawing concrete in the construction industry. In 1977, Longyear purchased rights to make concrete saws from the Drillistics Company. The firm's Salt Lake City plant began ...
The most common cutting element in use today is the polycrystalline diamond cutter (PDC), a sintered tungsten carbide cylinder with one flat surface coated with a synthetic diamond material. The cutters are arranged on the blades of the bit in a staggered pattern with the diamond coated cutter surface facing the direction of bit rotation to ...
Drill cuttings can be separated from liquid drilling fluid by shale shakers, by centrifuges, or by cyclone separators, the latter also being effective for air drilling. In cable-tool drilling, the drill cuttings are periodically bailed out of the bottom of the hole. In auger drilling, cuttings are carried to the surface on the auger flights.
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In 1990 the oil drilling company proposed selling its entire fleet of offshore drilling rigs to focus solely on fishing. The company had not had a profitable quarter in more than five years. In 1990, Zapata Offshore sold 12 of its drilling rigs to Arethusa Offshore, which a few years later merged with Diamond Offshore .