Patent ID: 7469755

Claim:
A system for drilling or servicing a well with coiled tubing, comprising: a first rotatable base comprising a bearing system rotatably fixing the base to a floor; a reel assembly comprising a support structure adapted to support a reel of coiled tubing, which reel of coiled tubing has an axis of rotation that is substantially orthogonal to a longitudinal axis of the well, the support structure comprising an alignment system to align the coiled tubing with the well as the coiled tubing is payed on and off the reel; the reel assembly located near a periphery of the first base; a coil tubing injector head disposed adjacent the reel assembly and aligned with the well; a transducer system associated with the injector head that detects the orientation of the coiled tubing relative to the well and generates one or more signals for energizing the alignment system; a second rotatable base to which the injector is coupled, and wherein the first rotatable base and the second rotatable base are capable of relative rotation there between; a counterbalance assembly located on the first base substantially opposite the reel assembly and moveable toward and away from the reel assembly to maintain balance of the first rotatable base as coiled tubing is payed on and off the reel; and a motive system for turning the first base and thereby transmitting torque to the coiled tubing in the well.