System and method to conduct underbalanced drilling

A system to drill an underbalanced wellbore comprising:

• a bottomhole assembly including a drill bit, the bottomhole assembly operable to conduct drilling of an underbalanced wellbore in a formation from a surface, the bottomhole assembly including a telemetry sub;
• a telemetry component operable to transmit signals in real-time between the telemetry sub of the bottomhole assembly and a controller on the surface;
• a drill string coupled to the bottomhole assembly, the drill string including a plurality of drill collars, the plurality of drill collars forming a channel operable to permit drilling fluid to flow from the surface to the bottomhole assembly, the drill string operable to be inserted into the wellbore by a hydraulic work over unit;
• and
• a continuous circulation component operable to provide continuous circulation of the drilling fluid while a new drill collar is coupled to the drill string, the continuous circulation component operable to substantially maintain a wellbore density at a predetermined density.

A method comprising:

• drilling, by a bottomhole assembly coupled to a drill string, an underbalanced wellbore in a formation, the drill string including a plurality of drill collars;
• inserting, by a hydraulic work over unit, the drill string into the wellbore;
• sensing, by one or more sensors, parameters downhole;
• transmitting in real-time, by a telemetry component to a controller at the surface, data corresponding to the sensed parameters;
• and
• providing continuous circulation, by a continuous circulation component while a new drill collar is coupled to the drill string, of drilling fluid to maintain a wellbore density at a predetermined density.