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.

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."

Recommended

How to invest today? Look to the past, not the future
Investment strategy

How to invest today? Look to the past, not the future

The past few years have seen so many changes to our way of life that many people said we had entered a “new normal”. But as it turns out, the new norm…
18 Aug 2022
A new legal headache for Haleon
Stocks and shares

A new legal headache for Haleon

Haleon, GSK’s former consumer-products arm, spun off last month, has made a dismal debut on the stockmarket.
17 Aug 2022
Persimmon yields 12.7%, but can you trust it to deliver?
Share tips

Persimmon yields 12.7%, but can you trust it to deliver?

With a dividend yield of 12.7%, Persimmon looks like a highly attractive prospect for income investors. But that sort of yield can also indicate a com…
17 Aug 2022
Cineworld faces a bleak future – investors should stay away
Share tips

Cineworld faces a bleak future – investors should stay away

Weighed down by crippling debts and with consumers tightening their belts, Cineworld's future does not look bright, says Rupert Hargreaves. Investors …
17 Aug 2022

Most Popular

Investors should get ready for a political revolution
UK Economy

Investors should get ready for a political revolution

Liz Truss will beat Rishi Sunak, cut taxes, and then shake up the Bank of England, says Helen Thomas
15 Aug 2022
How to protect your wealth as inflation hits new record highs
Investment strategy

How to protect your wealth as inflation hits new record highs

UK inflation has hit a new record high of 10.1%. It's going to hurt, says Dominic Frisby. Here's how you can protect your wealth.
17 Aug 2022
Don’t listen to the doom-mongers – the future is bright
Economy

Don’t listen to the doom-mongers – the future is bright

With volatile markets, raging inflation and industrial unrest, it may feel like things are bad and likely to get worse. But the end of the world is no…
15 Aug 2022