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.
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"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.
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