DynaEnergetics Surpasses One Million DynaStage™ System Sales
Milestone Reflects Transformational Impact the Factory-Assembled, Performance-Assured™ Perforating System is having on North America’s Well-Completion Industry
|
|||||
HOUSTON, Aug. 13, 2019 (GLOBE NEWSWIRE) -- DynaEnergetics, a business of DMC Global Inc. (Nasdaq: BOOM), today said it has sold more than one-million DynaStage™ (DS) Factory-Assembled, Performance-Assured™ well perforating systems from its new Blum, Texas, and Mt. Braddock, Pennsylvania, manufacturing facilities. DS systems have been adopted as a critical well-completion tool by service companies and operators working in every major unconventional oil and gas basin in North America.
“We developed the DS product family with the intent of positively transforming the safety, efficiency and reliability of the well completion process,” said DynaEnergetics’ president Ian Grieves. “Eclipsing one-million DS system sales is a clear indication we are succeeding in our objective.”
Grieves added, “There has not been a single safety incident associated with the use of the DS system. In addition, the enhanced operating efficiencies and reliability enabled by the DS product family are accelerating perforating cycle times and driving down well completion costs. Service companies exclusively utilizing DS systems are achieving perforating success rates in excess of 99.99 percent, which has led to greater efficiency of related well completion activities such as pressure pumping.”
The enabling technology within the DS product family is its intrinsically safe initiating system (IS2™). The patented, solid-state initiator is free of internal wiring and is triggered by a digital signal from surface. Unlike competitors’ resistorized detonators, which the IS2 system is replacing, DynaEnergetics’ initiators are immune to stray voltage, stray current and radio frequency. These safety features enable parallel operations at the well site, and allow customers to forego powering down generators, cell-phones and related equipment during perforating. In addition, IS2 systems enable electrical testing of the entire perforating gun string, including all detonators and igniters.
DS systems are shipped directly to the customer’s well-site or staging facility, and do not require field wiring or component assembly (See accompanying image for comparison to traditional perforating guns.). To build a gun string, the customer simply inserts the wireless IS2 detonator and attaches the adjacent DS system – a process that takes seconds. The simplicity of the DS system enables service companies to streamline their field crews and staging facilities. DS systems also are completely disposable, eliminating the need to reclaim connecting subs and components.
DynaEnergetics recently added three models to the DS product family: DS Trinity™ 4.0, DS Trinity 3.5 and DS NLine™. The Trinity systems address growing industry demand for compact, or “length-optimized” perforating guns. At 7-inches, DS Trinity 3.5 is the shortest perforating system in the market. DS NLine enables alignment at surface of all shaped charges in a gun string, as well as the orientation of the gun string downhole. NLine gives completion engineers greater design flexibility as they work to improve their well stimulation programs.
“Our IS2 systems, combined with our performance shaped charges and Factory-assembled, Performance-assured packaging options, enable customers to select from more than two thousand DS configurations to address their perforating objectives,” Grieves added.
In response to industry demand, DynaEnergetics recently completed a $70 million expansion of its manufacturing and assembly capacity in the United States and Germany. The investments have positioned DynaEnergetics as the industry’s largest and most reliable manufacturer of perforating systems.
“Our IS2 initiating systems and DS perforating systems have transformed the performance of the well completion industry, and are enabling a much more competitive and value-added business model for our service-company customers,” Grieves said. “Through ongoing product innovations and collaboration with our customers, DynaEnergetics will continue to lead our industry.”
About DynaEnergetics
DynaEnergetics’ innovative perforating systems make a measurable impact on well productivity, completion cost and safety. As the only global perforating manufacturer that designs, manufactures and qualifies all of its equipment and accessories in-house, DynaEnergetics ensures unmatched performance and the lowest total cost of operations. For more information, visit www.dynaenergetics.com.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/534f9c66-7e9a-4d59-a268-95187c87c3e6
Safe Harbor Language
Except for the historical information contained herein, 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, including DynaEnergetics’ ability to continue leading its industry. Such statements and information are based on numerous assumptions regarding present and future business strategies, the markets in which we operate, anticipated costs and ability to achieve goals. Forward-looking information and statements are subject to known and unknown risks, uncertainties and other important factors that may cause actual results and performance to be materially different from those expressed or implied by such forward-looking information and statements, including but not limited to: our ability to obtain new contracts at attractive prices; the execution of purchase commitments by our customers, and our ability to successfully deliver on those purchase commitments; the size and timing of customer orders and shipments; changes to customer orders; product pricing and margins, fluctuations in customer demand; our ability to successfully execute and capitalize upon growth opportunities; the success of DynaEnergetics’ product and technology development initiatives; fluctuations in foreign currencies; fluctuations in tariffs and quotas; the cyclicality of our business; competitive factors; the timely completion of contracts; the timing and size of expenditures; the timing and price of metal and other raw material; the adequacy of local labor supplies at our facilities; current or future limits on manufacturing capacity at our various operations; the availability and cost of funds; and general economic conditions, both domestic and foreign, impacting our business and the business of the end-market users we serve; as well as the other risks detailed from time to time in our SEC reports, including the annual report on Form 10-K for the year ended December 31, 2018. We do not undertake any obligation to release public revisions to any forward-looking statement, including, without limitation, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
Contact:
Edwin Reek,
Vice President of Product Management and Marketing
DynaEnergetics
713.766.7630
edwin.reek@dynaenergetics.com
Investor Contact:
Geoff High
Vice President of Investor Relations
DMC Global Inc.
303.514.0656
ghigh@dmcglobal.com
Released August 13, 2019