Baker Hughes Announces New Technologies: GeoForm and FracPoint
HOUSTON, March 9, 2011 /PRNewswire/ -- Baker Hughes (NYSE: BHI) announced today the commercial launch of its GeoFormTM sand management system with shape memory polymer (SMP) technology. A completely new approach to sand control, the GeoForm system reliably conforms to the borehole in an openhole environment-radically reducing complexity versus traditional gravel pack systems, while improving efficiency, reducing rig time and mitigating risks associated with conventional techniques.
The company also announced the development of the FracPointTM multi-stage fracturing system with innovative IN-TallicTM disintegrating frac balls. IN-Tallic balls break new ground in material science with a light weight, high strength material incorporating Controlled Electrolytic Metallic (CEM) technology. This technology is based on an electrochemical reaction controlled by varying nanoscale coatings within the composite grain structure.
The latest generation of the AutoTrakTM rotary steerable system (RSS) was also announced. The system is designed for high build rates and the accurate drilling of long horizontal wells for unconventional shale plays.
"We developed the materials used for GeoForm and the In-Tallic balls while researching designer materials, and particularly how materials from other scientific disciplines can be applied or modified for hydrocarbon exploration and production," says Derek Mathieson, president of products and technology for Baker Hughes. "AutoTrak Curve is an exciting evolution of Baker Hughes' pioneering AutoTrak system and demonstrates the success of our rapid commercialization model."
Forward Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, (each a "forward-looking statement"). These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to the conditions under which the tools and technology are used.
Baker Hughes provides reservoir consulting, drilling, pressure pumping, formation evaluation, completion and production products and services to the worldwide oil and gas industry.