AP NEWS

AFGlobal Completes Field Evaluation of DuraStim® Pump

December 3, 2018

HOUSTON--(BUSINESS WIRE)--Dec 3, 2018--AFGlobal today announced the successful completion of its field evaluation of the DuraStim ® pump in the Permian Basin. AFGlobal’s new patented pressure pumping technology offers end users tremendous advantages over traditional fracking technology and those offered by other electric and turbine based systems. The trial, which began last month, followed five years of stringent design and engineering, and significant in-house testing to prove out suitability for actual pressure pumping operations.

Designed by AFGlobal’s Pressure Pumping Technologies group, the DuraStim frac pump at 6000 HP, offers the equivalent of three times the effective horsepower of a conventional frac unit, while operating at approximately 10 percent of the cyclic rate. The DuraStim pump offers many advantages, including more than a 65 percent reduction in fleet footprint and manpower, while dramatically extending equipment life and reducing maintenance costs. This novel system, when coupled with an electric or turbine drive, is expected to also deliver a significant reduction in fuel consumption and emissions. Initially, AFGlobal will offer the system for sale with an electric direct drive, but expects to provide interested customers a turbine-direct drive system later in 2019, as well as a 3,000 HP diesel system later in 2019 or early 2020. The system will also offer a cloud-enabled control system to optimize the distribution of information and predictive maintenance to improve operational efficiencies.

“In keeping with our history of innovation and new technology development, we are excited to launch this unique pumping system, bringing the first true game-changing technology to the market in more than 3 decades,” commented Curtis Samford, President and Chief Executive Officer at AFGlobal. Samford continued, “The field trial was conducted in the Permian Basin in connection with ProPetro Holding Corp. (“ProPetro” - NYSE:PUMP), who has a long-standing relationship with us dating back to our entry into pressure pumping as an OEM in 2012. We greatly appreciate their help in getting the DuraStim pump validated in actual field operations.”

“We believe that the possibility of adding the DuraStim pump technology to our current fleet could help us substantially improve efficiencies and reduce our equipment downtime, which will ultimately benefit our customers with more uptime and better fleet utilization. We are very excited to be participating in the development of the DuraStim technology and look forward to the continued collaboration with AFGlobal,” commented Dale Redman, Chief Executive Officer of ProPetro.

The onshore and offshore application of the DuraStim technology can extend well beyond its pressure pumping application and is envisioned to be applied in other areas that can benefit from continuous flow pumps, including mud pumps, various midstream and downstream applications, and numerous other end uses.

AFGlobal expects to begin taking orders for DuraStim pumps in January 2019, for deliveries starting later in the second quarter.

AFGlobal is an oil and gas OEM specializing in technology, products, and services. Our fully-integrated manufacturing capabilities serve clients around the world. We align well-established precision engineering with industry-leading innovation. AFGlobal provides strategic technologies to the upstream market for onshore, offshore and connectors and precision manufacturing requirements. www.afglobalcorp.com

View source version on businesswire.com:https://www.businesswire.com/news/home/20181203005926/en/

CONTACT: AFGlobal - Christine Mathers

Director of Communications

+1.713.393.4361 |cmathers@afglobalcorp.com

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: ENERGY OIL/GAS MANUFACTURING ENGINEERING OTHER MANUFACTURING

SOURCE: AFGlobal

Copyright Business Wire 2018.

PUB: 12/03/2018 04:15 PM/DISC: 12/03/2018 04:15 PM

http://www.businesswire.com/news/home/20181203005926/en

AP RADIO
Update hourly