DynaEnergetics, a business of Dynamic Materials Corp. (Nasdaq: BOOM), has entered a principal partner agreement with Weatherford International. Under the agreement, Weatherford becomes the first oilfield service company to deploy DynaEnergetics’ DynaStage product, a factory-assembled, performance-assured well perforating system incorporating the safety features of DynaEnergetics’ advanced detonator technologies, according to a news release.
The DynaStage system utilizes the latest generation of the company’s integrated, intrinsically safe switch detonator, which was introduced approximately two years ago, the release said. 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 U.S. well-completion operations and advances its expansion objectives, according to the release. 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.
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