DynaEnergetics, a business of Dynamic Materials Corporation, today announced it has entered into a Principal Partner Agreement with Weatherford International plc, one of the world’s largest oil and natural gas service companies. Under the agreement, Weatherford becomes the first oilfield service company to deploy DynaEnergetics’ revolutionary DynaStage product, a factory-assembled, performance-assured well perforating system incorporating the safety features of DynaEnergetics’ advanced detonator technologies.
The DynaStage system utilizes the latest generation of the Company’s integrated, intrinsically safe switch detonator, which was introduced approximately two years ago and has been used in more than 300 000 select-fire perforations without a single safety incident. The new DynaStage detonator arms the DynaStage system upon insertion, and eliminates the need for field wiring. DynaStage is being assembled at manufacturing facilities in Pennsylvania and Texas.
The Agreement ensures DynaEnergetics will meet pre-determined inventory and pricing commitments as Weatherford incorporates DynaStage into its US well-completion operations and advances its expansion objectives. DynaEnergetics also will provide technical, logistical and field support, as well as training, sales and marketing assistance. The agreement follows a six-month field-testing partnership conducted by both companies. Financial terms of the agreement were not disclosed.
“The commercial introduction of DynaStage is a milestone achievement for both DynaEnergetics and Weatherford,” said Francisco Marcano, corporate vice president of DMC and general manager of DynaEnergetics, Americas. “Through this partnership, we are collectively providing the US oil and gas industry with a step change in perforating safety, reliability and efficiency.”
Adapted from a press release by David Bizley