Materia Inc., which manufactures catalysts and advanced polymers, has developed Proxima thermoset resins as its new solution for the oil and gas industry. Materia said Proxima resins provide solutions that could solve major technology challenges in subsea thermal insulation, subsea buoyancy and downhole tools. Earlier this year, Materia was selected by Shell to supply pipeline insulation materials for the Appomattox (32/22) development in the deepwater Gulf of Mexico. Brian Conley, senior Proxima product development manager, said, “Materia’s subsea thermal insulation products offer full system integrity for high-temperature deepwater environments. The use of Proxima HTI polymers results in lower risk and better reliability for insulation of high-temperature subsea flowlines, field joints and equipment relative to the alternative engineered solutions.”
The partnership with Proserv Group establishes a framework for a bundled offering that will provide a compelling value proposition for Dril-Quip’s subsea customers, CEO Blake DeBerry says.
Jay Graham is back after the successful sale of WildHorse Resource Development to Chesapeake Energy with a new venture—this time in the Permian Basin.
“After exploring all strategic and financial options available to Rosehill,” CEO David French said the company agreed to a restructuring plan with its major creditors, which includes filing for Chapter 11 bankruptcy, .