Industrial manufacturing company StimStixx Technologies Inc. has entered into a strategic partnership with Hunting Titan Inc., a manufacturer of logging and perforating equipment, to advance well perforation and acidization technologies, according to a Feb. 6 news release.
Synergies between StimStixx and Hunting will enable the increased treatment of more wells annually, StimStixx said in the release. The increased scale of operations will also “significantly” reduce costs associated with the acidizing processes in the oil and gas industry.
StimStixx said its custom blends of hydrogen chloride and hydrogen fluoride tools will be available to clients to acidize new perforations as well as existing intervals to increase production.
The collaboration will extend StimStixx Technologies’ global distribution network and “foster development of integrated acidizing and perforating technologies,” StimStixx said in the release.
“We are excited to be working with Hunting Titan Inc., providing cutting-edge technology that not only makes wireline a full-service solution in the industry but also aids in the efficiency and expediency of the process,” said Jordan Brennan, StimStixx president and CEO.
Jason Mai, managing director of Hunting Titan, said the partnership will enhance operational efficiency and scalability for well perforation and acidizing.
Mai said the collaboration “not only contributes to significant cost reduction but also aligns with sustainability goals, marking a pivotal advancement in the completions sector. The industry can expect improved wireline services, greater efficiency, and streamlined processes."
Recommended Reading
Diamondback to Sell $2.2B in Shares Held by Endeavor Stockholders
2024-09-20 - Diamondback Energy, which closed its $26 billion merger with Endeavor Energy Resources on Sept. 13, said the gross proceeds from the share’s sale will be approximately $2.2 billion.
Optimizing Direct Air Capture Similar to Recovering Spilled Wine
2024-09-20 - Direct air capture technologies are technically and financially challenging, but efforts are underway to change that.
Analyst: Is Jerry Jones Making a Run to Take Comstock Private?
2024-09-20 - After buying more than 13.4 million Comstock shares in August, analysts wonder if Dallas Cowboys owner Jerry Jones might split the tackles and run downhill toward a go-private buyout of the Haynesville Shale gas producer.
Matador Offers $750 Million in Senior Notes Following Ameredev Deal
2024-09-20 - Matador Resources will offer $750 million in senior notes following the close of its $1.83 billion Ameredev II acquisition.
Aethon, Murphy Refinance Debt as Fed Slashes Interest Rates
2024-09-20 - The E&Ps expect to issue new notes toward redeeming a combined $1.6 billion of existing debt, while the debt-pricing guide—the Fed funds rate—was cut on Sept. 18 from 5.5% to 5%.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.