New Couplings Extend Production Time in Oil Wells
MAYFIELD HEIGHTS, Ohio--(BUSINESS WIRE)--
Materion
Corporation (NYSE: MTRN), following a successful strategic alliance with
Hess Corporation (NYSE: HES), has introduced new ToughMet 3 Sucker Rod
Couplings that maximize oilfield production output and significantly
reduce the costs of well operations when used in place of sucker rod
couplings made of conventional steel materials.
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. Strings can reach 10,000 feet in length, so as many as 400
of these couplings can be required in one 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.
Materion's patent-pending ToughMet 3 couplings were tested by Hess in
oilfields in North Dakota, where they significantly reduced the
frequency of damage to sucker rod couplings and production tubing.
"We apply Lean manufacturing principles to our Bakken operations so
we're continually looking for ways to improve reliability and decrease
waste," said Seth Silverman, Hess Senior Engineering Advisor, who led
the effort for Hess to support Materion in the development of the
couplings. "We field tested this with the hope of finding a solution
that could help improve our production operations and reduce mechanical
failure."
Over 18 months, Hess field tested the couplings on the worst wear
sections of tapered rod strings in 10 of its Bakken wells and found
practically no measured wear in double the previous run time.
Made from a unique temper of copper-nickel-tin spinodal alloy engineered
by Materion specifically for use in the oilfield, ToughMet 3 Sucker Rod
Couplings resist mechanical wear, thread damage, corrosion and erosion.
They are non-galling, so they do not damage production tubing, and they
retain their strength even at elevated temperatures. This combination of
attributes minimizes the frequency of workovers associated with
couplings made of other materials.
"Materion is committed to developing and manufacturing advanced,
high-performance products that solve our customers' toughest performance
challenges," said W. Glenn Maxwell, President, Materion Performance
Metals. "We introduced the ToughMet 3 couplings at an oil and gas trade
show and demonstrated how their unique properties can double the
interval between our customers' well-workovers, effectively reducing one
of their major operating costs and increasing their earnings by
eliminating costly production interruptions."
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151013006682/en/
Media Contact:
Materion Performance
Alloys
Karen Ducatman, Manager of Marketing Communication,
216-383-4090
Karen.Ducatman@materion.com
or
Investor
Contact:
Materion Corporation
Michael C. Hasychak, Vice
President, Treasurer and Secretary, 216-383-2863
Mike.Hasychak@materion.com
or
http://www.materion.com
Mayfield
Hts-g
Source: Materion Corporation
News Provided by Acquire Media