Dialight tapping into oil & gas opportunities
Dialight has secured a 'major order' for over a thousand LED lighting fixtures from an unnamed, Texas-based rig owner and operator, the company announced on Monday morning.
Dialight has secured a 'major order' for over a thousand LED lighting fixtures from an unnamed, Texas-based rig owner and operator, the company announced on Monday morning.
The LED lighting technology group said it will provide 1,224 fixtures for the "major" US company for use on eight newly constructed onshore drilling rigs.
The customer, which is said to have over 1,000 land rigs in its fleet, along with platform and barge rigs, placed the order following successful trial of Dialight's LED light fixtures.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Chief Executive Roy Burton said: "We believe that this order is just the beginning of what we see as a major growth area for our LED fixtures. We are rapidly expanding our operations and sales forces in regions such as Brazil, Eastern Europe, the Middle East and South-East Asia, among others, to take advantage of the opportunity in the oil & gas market."
The customer, which is said to have over 1,000 land rigs in its fleet, along with platform and barge rigs, placed the order following successful trial of Dialight's LED light fixtures.
Burton said: "There are a huge number of drilling rigs around the world with the potential for integrating LED lighting suitable for hazardous locations and Dialight is particularly well-positioned to service that market. We are looking forward to securing more contracts of this nature in the future, for both new and serviced existing rigs, as the industry continues to recognise the considerable value proposition of LED lighting."
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Christmas at Chatsworth: review of The Cavendish Hotel at Baslow
MoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
By Dr Matthew Partridge Published
-
Tycoon Truong My Lan on death row over world’s biggest bank fraud
Property tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
By Jane Lewis Published