WFTIQ - Weatherford Announces Co-Commercialization Collaboration with ExxonMobil
BAAR, Switzerland, Aug. 19, 2019 /PRNewswire/ -- Weatherford International plc (OTC-PINK: WFTIQ) (the "Company" or "Weatherford") has announced the release of the Mamba™, a severe-service sucker-rod coupling engineered to significantly reduce production-tubing friction and wear in sandy, corrosive, and deviated wells.
Designed exclusively in a co-commercialization collaboration with ExxonMobil, the new sucker-rod coupling is coated with a proprietary, diamond-like layer that dramatically reduces friction between the coupling and production tubing. Compared to all previously available couplings, including standard, spray metal, and premium friction-resistant materials used in high-abrasion areas, the exclusive Mamba carbon-spray coating provides six-times greater wear resistance and uptime in both laboratory and extensive field tests. Available in a selection of two proprietary coatings, a single-stage process and a triple-layer coating, Mamba couplings are ideal for rod-lift and PCP-lift wells operating in challenging environments.
For nearly a century, oil producers have come to rely on the artificial lift of rod pumping to keep wells producing for as long as economically possible. However, the constant up-and-down movement of a sucker rod creates erosion wear on the rod and tubing, which if left unchecked, requires a costly intervention to make repairs.
The three-year development and commercialization of the new friction-reducing technology was in response to an industry-wide need for minimizing the failure-frequency and costs related to tubing and rod-string failures caused by friction. Working together, Weatherford and ExxonMobil executed the exclusive agreement to jointly commercialize the technology. This agreement resulted in the commercialization of a premium line of friction-resistant, sucker-rod couplings using the patented ExxonMobil technology, winner of the 2018 Edison Patent Award for industrial process.
Jayme Meier, technology development manager at ExxonMobil, said, "The application of the ExxonMobil patented coating process to the outer diameter of Weatherford sucker-rod couplings represents a valuable option for oil and gas operators facing challenging well applications. This collaboration reveals the kind of breakthrough innovations that can be gleaned from combining our technologies and experience."
Kyle Chapman, President of Production at Weatherford agreed that the mutual drive for innovation between ExxonMobil and Weatherford created a brand-new solution to an old oilfield problem. "We are driven to create more productive outcomes for our clients," Chapman said. "And the best result is when we can turn an operator's pain-point into a solution that not only alleviates the problem but also creates a more profitable outcome."
About Weatherford
Weatherford is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in more than 80 countries and has a network of 620 locations, including manufacturing, service, research and development, and training facilities and employs more than 24,500 people. For more information, visit www.weatherford.com and connect with Weatherford on LinkedIn, Facebook, Twitter and YouTube.
Contact:
Christoph Bausch
+1.713.836.4615
Executive Vice President and Chief Financial Officer
Karen David-Green
+1.713.836.7430
Senior Vice President Stakeholder Engagement and Chief Marketing Officer
SOURCE Weatherford International plc