Engineering giant Weir has today announced the launch of new products by its Oil and Gas division which are expected to expand its addressable market by over 500m dollars.
The products will launch at the Offshore Technology Conference in Houston, Texas, "the world's foremost event for drilling, exploration and production technology" as the group attempts to fulfil its strategy of being an "innovative supplier to the upstream oil and gas markets".
The new products include the 'Duralast' patent-pending fluid end technology, which is expected to, when used by an SPM frac pump, double the life of existing SPM fluid ends.
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
"Using existing materials, 'Duralast' can deliver operational cost savings while the technology can also be applied to fluid ends made with stainless steel and other alloys," the statement said.
Other products launched today include the: 'Destiny' QWS 2800 frac pump, engineered for harsh shale applications; 'Gladiator' water and slurry pumps, designed to increase equipment life and deliver lower operating costs; and 'Stampede' swellable packers, which use a proprietary elastomer compound which provides predictable swell when in contact with well fluids and with changes in temperature.
Shares were 0.69% higher at 1,752p in early trading on Monday.
BC
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
