NOV Expands Completion Tool Technology Product Offering
June 01 2017 - 5:15PM
Business Wire
National Oilwell Varco, Inc. (NYSE: NOV) announced today the
introduction of several new proprietary technologies to its
completion tools portfolio:
- Bulldog Frac™ - a sliding-sleeve
annular fracturing system that provides pinpoint accuracy, zonal
isolation, and improved reliability;
- Bullmastiff™ - a ball-drop openhole
sliding-sleeve sand control fracturing system;
- Rottweiler™ - a product family of
compact, high-performance frac plugs for the plug-and-perf
market;
- ReAct™ - an intelligent completion tool
technology that offers remote signaling capabilities for valves and
sleeves for a variety of applications and completion designs;
and
- German Oil Tools – a line of advanced
liner hanger systems and other completion tool technologies,
products, and accessories.
“We are proud to unveil this meaningful expansion to our
portfolio of leading-edge completion tool technologies,” commented
Clay Williams, NOV Chairman, President, and CEO. “NOV now offers a
comprehensive set of differentiated completion tool products and
solutions that we believe address the most pressing needs within
the global marketplace.”
“We acquired a small completion tool company in mid-2016 that
had limited scale and geographical reach but offered a high-quality
sliding sleeve product line, strong portfolio of intellectual
property, and solid team. Over the past year, this team organically
developed several complementary products and supplemented that
development with acquisitions of what we believe are best-in-class
liner hanger and intelligent completion tool technologies. Today
our completion tool business operates in 10 countries, has
approximately 100 patents issued or pending, and we continue to
expand our operations.”
Bulldog Frac Pinpoint Annular Fracturing System
The Bulldog Frac annular fracturing system enables operators to
precisely control the placement of proppant in each stage by
pumping down the coiled tubing annulus through Multiple Open/Close
(MOC) sliding sleeves, providing for an unlimited number of stages
and leaving no restrictions in the wellbore. The Bulldog Frac
system addresses the operational challenges of most MOC systems
with a “shift up to open” design, performed with NOV’s proprietary
hydraulic shifting tool, which ensures no sleeves are accidentally
closed on the trip out. Unlike competitors’ products, Bulldog frac
sleeves are compact, lightweight, and do not require handling pup
joints, allowing for safer and more efficient installation.
Additionally, the Bulldog incorporates NOV’s patented and
field-proven sealing system, which offers full pressure testing of
previously manipulated sleeves even after several years in
service.
Bullmastiff Openhole Sand Control Ball-Drop Fracturing
System
The Bullmastiff fracturing system is a proprietary openhole
sliding-sleeve system that incorporates sand screens to eliminate
costly sand-production issues while maximizing hydrocarbon
production. The ball-drop frac sleeve component is the first to
allow for proppant stimulation with integral sand control,
segregating the stimulation port from the production port. The
Bullmastiff incorporates NOV’s patented flex sleeve and sealing
technology to allow for maximum stage-count flexibility.
Rottweiler Frac Plugs
Compact, large-bore Rottweiler frac plugs are the shortest on
the market but still offer optimum performance during fracturing
operations. Rottweiler frac plugs can be pumped in at high
displacement rates, hold high differential pressure, and are easily
milled. Additionally, Rottweiler frac plugs are the only products
to offer a built-in chemical tracer that provides real-time data on
reservoir characteristics during frac jobs to enhance production.
Rottweiler frac plugs are currently available in cast-iron, with a
composite version expected to be released in the near future.
ReAct Remote Activation Technology
The ReAct product family, which was acquired from Omega
Completion Technology, offers remote signaling capabilities to
downhole valves and sleeves. The technology can be utilized for a
number of applications including programmable sleeves, which
respond to a particular pressure or flow signal and require no
hydraulic or umbilical lines to surface. The ReAct technology
currently has applications for inflow control (for water shutoff or
zonal isolation), liner hanger deployment, production packer
setting, and wellbore cleanup in preparation for flow-through sand
screen completions. These interventionless solutions provide the
lowest-cost intelligent completion technologies on the market.
German Oil Tools Liner Hanger Technologies
German Oil Tools offers a proven portfolio of well-construction
and completion products that are highly regarded for quality and
reliability and are currently sold in Europe, the Middle East, and
Africa. The operation, which includes GPS Oil Tools, will continue
to develop and manufacture products in Germany to retain high
standards of quality, craftsmanship, and innovation, but will
benefit from NOV’s global sales organization and supply chain to
accelerate its ability to meet customers’ growing demand for
reliable, cost-efficient completions solutions around the
world.
About NOV
National Oilwell Varco (NYSE: NOV) is a leading provider of
technology, equipment, and services to the global oil and gas
industry that supports customers’ full-field drilling, completion,
and production needs. Since 1862, NOV has pioneered innovations
that improve the cost-effectiveness, efficiency, safety, and
environmental impact of oil and gas operations. NOV powers the
industry that powers the world.
Visit www.nov.com for more information.
Cautionary Statement for the Purpose of the “Safe Harbor”
Provisions of the Private Securities Litigation Reform Act of
1995
Statements made in this press release that are forward-looking
in nature are intended to be “forward-looking statements” within
the meaning of Section 21E of the Securities Exchange Act of 1934
and may involve risks and uncertainties. These statements may
differ materially from the actual future events or results. Readers
are referred to documents filed by National Oilwell
Varco with the Securities and Exchange Commission,
including the Annual Report on Form 10-K, which identify
significant risk factors which could cause actual results to differ
from those contained in the forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20170601006421/en/
National Oilwell Varco, Inc.Investor and Media
Contact:Loren Singletary, 713-346-7807Chief Investor &
Industry Relations OfficerLoren.Singletary@nov.comorCustomer
Contact:Mike Hart, 713-634-3181Chief Sales Officer, Completion
& Production SolutionsMike.Hart@nov.com
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