OTC 2012: Weir Launches Five New Products for Upstream Market (USA)
- Business & Finance
The Oil & Gas division of the Weir Group PLC (Weir) today launches five new products, in line with its strategy of being an innovative supplier to the upstream oil and gas markets. The new products broaden its portfolio, expanding its addressable market by over US$500m.
They include the Duralast(TM) patent-pending fluid end technology. The products will launch at the Offshore Technology Conference in Houston, Texas, the world’s foremost event for drilling, exploration and production technology.
Fluid ends are a key aftermarket pressure pumping component used in shale oil and gas drilling operations. When an SPM® frac pump uses Duralast(TM), we project that it can have up to double the life of existing SPM® fluid ends.
Using existing materials, Duralast(TM) can deliver operational cost savings while the technology can also be applied to fluid ends made with stainless steel and other alloys.
Duralast(TM) fluid end technology will be initially launched for our Destiny(TM) frac pump range in the third quarter of 2012, before being applied across the full SPM® fluid end range.
The other new products launched today are:
Destiny(TM) QWS 2800 frac pump – this pump has been engineered for harsh shale applications. The pump’s increased horsepower and Duralast(TM) fluid end technology is designed to deliver robust performance and low operating costs.
Gladiator(TM) water and slurry pumps – the slurry pump has been designed to deliver lower operating costs through long lasting performance, and is manufactured using a proprietary Weir alloy which has already been proven to significantly increase the equipment life in aggressive mining applications.
Stampede(TM) swellable packers – use a Weir proprietary elastomer compound which provides predictable swell when in contact with well fluids and with changes in temperature.
The Weir Group PLC will issue its Q1 interim management statement on 9 May 2012.
Source: Weir Group, April 30, 2012