3.20141014 finanskonferanse stavanger badger
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The mission
• Badger Explorer is developing a rig-less exploration tool, based on an
idea from IRIS in Stavanger
• A large portion of the undiscovered oil and gas resources are expected
to be located in the Environmentally Sensitive Area. The cost of
exploring these areas has increased to a level where the oil and gas
companies now are turning down proposals to drill exploration wells.
• In, for example, an Arctic offshore setting, the Badger Explorer will be
able to deliver exploratory wells to a cost in the range of USD 15 – 20
million. Conventional wells might have a price in excess of USD 100
million.
• In addition, the Badger Explorer will not represent any environmental
exposure or threat.
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Technology
Rig-less exploration tool
- Autonomous drilling robot
- Logging formation data as the tool buries itself into the underground
- Environmentally friendly
- Large cost savings
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Badger Explorer - history
Early 2000, Idea about rig-less exploration tool
from IRIS…
2003:
Company Badger Explorer established
2005 – 2006:
Funded by oil companies, governmental fundingand private funding. 95 MNOK
2007:
Listed on Oslo Stock Exchange. 165 MNOK
2007 –
2014:Oil companies, Innovation Norway, Research
Council of Norway. 105 MNOK
ORIGINAL PATENT GRANTED IN 2003
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Badger Explorer – development programs
2003:
Original patent granted
2005 – 2011:
Prototype development
Concept studies, modeling and testing
Prototype tool
Public funding (Petromaks)
Supported by Statoil, Shell and ExxonMobil
2012 - 2014:
Demonstrator Program
Implementing solutions from previous program
Reliability engineering
Full scale tests
2015 – 2017:
Development Program
Aims to deliver a commercial tool
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Technical cooperation with range of companies
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Enabling technologies
Game changing technology and solutions
Need for new technologies
Patents important to protect concepts during development
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Two cases
Two cases where patents have played an important role:
Case 1:• Unique drill bit
• Patent allows Badger Explorer to investigate and
develop concept
• Discussions with partners and suppliers
Case 2:• Plasma drilling
• Badger Explorer acquires rights and IP to investigate
concept
www.zaptec.no
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Case 1: New drill bit concept
To enable drilling without external fluids, a novel bit design have
been developed –The self cleaning bit
Several patents are pending on the concept
Patent pending allowed discussion with bit specialist companies
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Case 1: New drill bit concept
The concept of the Self cleaning bit has evolved from sketches to full scale prototype
Successfully drilled to range of different formations
The patent process was started early to protect the technology
Q1-2013 Q3-2014
Patent process
started Q3-2013
X
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Case 2: Valueable IP – even if not used
University of
Strathclyde had aconcept for Plasma
Drilling.
Badger Explorer got
exclusive right to
use the technologyin oil & gas industry
Together with
Badger Explorer,Zenzor developed
unique technology,
which was patented
by Badger Explorer
Separate companyowning IP
established, Badger
Explorer Plasma
Drilling
R&D concluded that
Plasma Drilling wasnot feasible for
Badger Explorer.
The IP was sold to
ZAPTEC.
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New partner oil company - CNPC
China National Petroleum Company
(CNPC) latest partner for Badger Explorer
Patents and IP instrumental in securing
partnership
CNPC will use Badgers IP to develop a Badger Explorer tool
in China
Mutual exchange of technology and IP
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Way forward
Milestone 5 and 6 remaining
Full scale tests
Development Program (2015 – 2017) …commercial tool
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