Oil & Gas Producers Turning to Advanced Materials to Help Offset Low Prices and Boost Profitability

Worthington, OH, August 21, 2019 --(PR.com)-- Oil and gas producers are facing a challenging economic climate brought on by low prices, global trade tensions and a forecast that predicts more of the same. To combat this trend and maintain profitability, producers are focusing on boosting efficiency and performance, and they are finding solutions by collaborating with advanced materials providers to improve exploration and production equipment.

“The reliability and performance of downhole tools has a major impact on enhancing productivity and efficiency,” said Prasad K.V.D., Product Manager of Mining, Oil & Gas for Hyperion Materials & Technologies, a global company with more than 60 years of experience manufacturing tungsten carbide, synthetic diamond and cubic boron nitride materials that excel in aggressive environments like those in oil and gas drilling. “As the service providers try to drill wells faster and pump fluids at higher pressures, we partner with them to develop a wide range of high-performance components and sub-assemblies that solve these challenges in drilling, well completion and flow control.”

Simply put, when companies invest in developing tools made of harder, more corrosive-resistant materials, they experience less time on well sites, put wells into production sooner and, ultimately, spend less money to extract more resources. As a result, many of the largest producers are achieving record production — and record earnings.

While advanced materials are a component of that success, the driver is the expertise manufacturers provide to solve specific problems with tailor-made solutions. K.V.D. said a recent example at Hyperion was developing diamond-faced carbide valve and seat sub-assemblies for a major service provider’s advanced rotary steerable system (RSS), a type of tool used in directional drilling. The upgrades enabled the customer to deliver more precision, speed and accuracy, which are essential for drilling longer laterals in a shorter time and at optimum cost.

From Sept. 3 to 6, Hyperion will be showcasing products and solutions for the oil & gas industry at SPE Offshore Europe 2019 in Aberdeen, Scotland, U.K. Specifically, Hyperion will feature its expanding oil and gas portfolio, which includes a new, high-performance tungsten carbide grade called DZ07.

“We developed DZ07 after careful consideration of customer inputs as they wanted a better balance of mechanical properties without compromising corrosion resistance,” said Ram Raghavan, Business Development Leader of Hyperion’s Oil & Gas business. “DZ07 grade was tested in severe accelerated conditions, and it outperformed the incumbent grades. This new grade, with its superior properties, will offer enhanced performance particularly suited for demanding conditions of the future.”

About Hyperion Materials & Technologies: Hyperion Materials & Technologies is a global leader in hard and super-hard materials with more than 60 years of experience in cemented carbide, diamond and cubic boron nitride technologies. Hyperion specializes in premium base materials, toolmaker components, engineered products, and process tools and solutions for the most demanding applications. With more than 1,500 employees, Hyperion has its production footprint in North and South America, Europe and Asia, and sales in more than 70 countries.

To learn more, search for Hyperion Materials & Technologies on the web, LinkedIn or YouTube.