ToughMet® Sucker Rod Couplings Named Finalist for Two Awards: 2016 World Oil and Platts Global Energy Awards
September 30 2016 - 10:49AM
Business Wire
New Coupling Technology from Materion and
Hess Improves Oilfield Results
ToughMet® Sucker Rod Couplings have been named a finalist for
two 2016 industry awards: for the 2016 World Oil Awards Best
Production Technology category and the Platts Global Energy Award
Commercial Application of the Year category. Materion Corporation
(NYSE: MTRN), and Hess Corporation (NYSE: HES) partnered to develop
and test the use of Materion’s advanced, high performance ToughMet
copper-nickel-tin alloy for sucker rod couplings. Hess tested the
couplings in North Dakota where they improved oilfield production
and significantly reduced the costs of well operations when used in
place of couplings made of conventional steel materials. The
couplings were made available commercially in late 2015.
In oilfields, sucker rod couplings join individual 25-foot
sucker rods into long strings that connect the pump jack on the
ground and the pump in the well. In areas where wells are curved,
couplings rub against the inside of the tubing, causing damage and
well failure. Costs to repair wells can run into the tens of
thousands of dollars per well per year.
Hess field tested the patent-pending ToughMet couplings on the
worst wear sections of tapered rod strings in ten of its Bakken
wells for more than two years and found practically no measured
wear. The longest-running wells are now in operation for as much as
five times their previous run times and the couplings have
increased well production by as much as 30 percent.
“Such an innovation couldn’t have come at a better time for the
industry, as crude price volatility has driven a great need for
operators to increase efficiency, reduce waste and cut costs,” said
Seth Silverman, Hess Senior Engineering Advisor, who led the
project for Hess. “Hess uses the Lean Manufacturing process to
reduce operating costs in its Bakken operations by focusing on the
maintenance, reliability and integrity of its wells. Choosing
ToughMet for sucker rod couplings was a simple solution to a
problem that has been plaguing operators for many years in North
Dakota.”
“Partnering with Hess allowed us to solve a common oilfield
problem. We’re extremely pleased that the couplings have been
recognized as finalists for these two prestigious industry awards,”
said William Nielsen, Materion Performance Alloys Vice President of
Bulk Products. “At Materion, we welcome the opportunity to work
with our customers to innovate new technologies.”
About Materion:
Materion, founded in 1931, is one of the world’s premier
advanced materials solutions providers committed to developing,
manufacturing and marketing highly engineered advanced materials
for global customers across a wide range of markets. Materion
serves customers in more than 50 countries with operating, service
centers and major office locations throughout North America, Europe
and Asia. For more information, visit: www.materion.com.
About Hess:
Hess Corporation is a leading global independent energy company
engaged in the exploration and production of crude oil and natural
gas. More information on Hess Corporation is available at
www.hess.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160930005482/en/
Media:Materion Performance
AlloysKaren
Ducatman216-383-4090Karen.Ducatman@materion.comorInvestors:Materion CorporationMichael C.
Hasychak216-383-6823Mike.Hasychak@materion.comorhttp://www.materion.comMayfield
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