| Materion Introduces ToughMet 3 Sucker Rod Couplings | |
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MAYFIELD HEIGHTS, Ohio--(BUSINESS WIRE)-- Materion Corporation (MTRN), following a successful strategic alliance with Hess Corporation (HES), has introduced new ToughMet 3 Sucker Rod Couplings that maximize oilfield production output and significantly reduce the costs of well operations when used in place of sucker rod couplings made of conventional steel materials. In oilfields, sucker rod couplings join individual 25-foot sucker rods into long strings that connect the pump jack on the ground and the pump in the well. Strings can reach 10,000 feet in length, so as many as 400 of these couplings can be required in one well. In areas where wells are curved, couplings rub against the inside of the tubing, causing damage and well failure. Costs to repair wells can run into the tens of thousands of dollars per well per year. Materion’s patent-pending ToughMet 3 couplings were tested by Hess in oilfields in North Dakota, where they significantly reduced the frequency of damage to sucker rod couplings and production tubing. “We apply Lean manufacturing principles to our Bakken operations so we’re continually looking for ways to improve reliability and decrease waste,” said Seth Silverman, Hess Senior Engineering Advisor, who led the effort for Hess to support Materion in the development of the couplings. “We field tested this with the hope of finding a solution that could help improve our production operations and reduce mechanical failure.” Over 18 months, Hess field tested the couplings on the worst wear sections of tapered rod strings in 10 of its Bakken wells and found practically no measured wear in double the previous run time. |
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Hess Corporation
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CODE : HES |
ISIN : US42809H1077 |
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Hess Corp. is a and oil exploration company based in United states of america. Hess Corp. is listed in Germany and in United States of America. Its market capitalisation is US$ 50.9 billions as of today (€ 47.5 billions). Its stock quote reached its lowest recent point on November 17, 1989 at US$ 10.06, and its highest recent level on April 25, 2024 at US$ 161.45. Hess Corp. has 315 053 615 shares outstanding. |