A simple device that borrows technology from the aerospace industry could soon be found on drilling rigs around the world, saving firms millions of dollars in pipe damage and downtime.

Rigworks Oilfield Solutions has been testing its “torque sensor” for four years with two small drilling firms. The four-person, Nisku-based firm plans to launch a global sales campaign next month and is already interviewing potential staff to build more of the $38,000 units.

“Our sensor prevents an over-torque on drill pipe which damages the threaded joints on a drill string,” said Steve Collier, chief operating officer for the firm.

With about 5,200 rotary drilling rigs in the world, Rigworks is aiming to have its unit on 40 per cent of them within three years.

Rigworks has its units in the field with Ironhand Drilling of Calgary and Red Dog Drilling of Estevan, Sask.

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Alberta has the friendliest investment climate among Canadian provinces, while Ontario continues to struggle, according to a report released Thursday from the Fraser Institute.

The report lauded Alberta for its low taxes on companies and people, careful spending at the provincial-government level and lack of red tape.

“With Canada’s lowest corporate and personal income taxes, most flexible labour market, smallest government and relatively low level of red tape, Alberta continues to offer an investment climate that is the most attractive nationwide,” said Charles Lammam, senior policy analyst with the Fraser Institute.
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