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GE and DYNAenergetics Sign Global Free Point and Wireline Equipment Distribution Agreement - Agreement designed to offer oilfield customers single source to purchase vital downhole equipment (NYSE: GE)
GE and DYNAenergetics Sign Global Free Point and Wireline Equipment Distribution Agreement

 

PRZOOM - /newswire/ - Houston, TX, United States, 2012/04/30 - Agreement designed to offer oilfield customers single source to purchase vital downhole equipment (NYSE: GE). NYSE: GE

   
 
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GE Oil & Gas (NYSE: GE) and DYNAenergetics GmbH & Co KG of Troisdorf, Germany today announced they have signed an agreement to have DYNAenergetics, a leading provider of perforation products, be a global distributor of GE’s portfolio of free point equipment and wireline accessories.

As a result of the new agreement, DYNAenergetics will be able to offer its customers a single point of purchase for all perforating equipment and accessories as well as free point tools and wireline accessories. Offering customers the ability to acquire all the products they need from one supplier in their particular region simplifies the purchasing and importation processes.

GE’s equipment is used for pipe-recovery operations in stuck pipe situations during drilling and workover activities. In the context of oil wells, DYNAenergetics’ perforation equipment is used to punch holes into the casing of the borehole to connect it to the reservoir.

"GE’s equipment is ideally suited to complement what we provide, giving customers easy and quick access to our combined portfolios,” said Frank Preiss, vice president, sales and marketing DYNAenergetics. ”The agreement helps us guarantee the supply of a proven wireline accessory product line to sell with our own perforating equipment.”

GE’s equipment will include free point tools and back-off equipment, perforating and wireline accessories, analog gamma ray, noise, temperature and CCL logging tools. GE’s Free Point Tools include the widest range of stuck pipe equipment available. This combination permits ease of operation in diverse stuck pipe situations. All of GE’s tools and accessories, excluding logging tools, are rated to 500 degrees Fahrenheit and 20,000 psi.

“We are excited to embark on our new distribution agreement with DYNAenergetics, which gives us a valuable new pathway to access new oilfield customers around the world that previously had not used GE’s products,” said Sam Aquillano, vice president—drilling and surface for GE Oil & Gas.

GE’s pipe recovery and wireline accessory equipment will be manufactured at its facility in Broussard, La. Beginning in the second quarter of 2012, GE will supply its equipment continuously to DYNAenergetics for the duration of their agreement.

About DYNAenergetics

DYNAenergetics is one of the world’s leading companies in the field of industrial explosives. DYNAenergetics designs, manufactures and distributes perforating systems, seismic exploration systems and associated products. The company employs more than 260 specialists in its global workforce. DYNAenergetics is a company of Boulder, Colo.-based Dynamic Materials Corporation, the leading provider of explosion-welded clad metal plates.

About GE

GE (GE.com) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works.

GE Energy works connecting people and ideas everywhere to create advanced technologies for powering a cleaner, more productive world. With more than 100,000 employees in over 100 countries, our diverse portfolio of product and service solutions and deep industry expertise help our customers solve their challenges locally. We serve the energy sector with technologies in such areas as natural gas, oil, coal and nuclear energy; wind, solar, biogas and water processing; energy management; and grid modernization. We also offer integrated solutions to serve energy- and water-intensive industries such as mining, metals, marine, petrochemical, food & beverage and unconventional fuels.

Follow GE Energy on Twitter @GE_Energy.

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GE and DYNAenergetics Sign Global Free Point and Wireline Equipment Distribution Agreement

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