DynaEnergetics Enhances its IS2™ TF Intrinsically Safe™ Initiating System; Upgrade Enables Deployment of up to 100 DynaStage™ (DS) Perforating Systems in a Single Plug and Perf Tool String
Rhea-AI Summary
DynaEnergetics, a subsidiary of DMC Global, has upgraded its IS2 TF Intrinsically Safe initiating system, enhancing its capacity to deploy up to 100 DS Factory-Assembled, Performance-Assured™ well perforating systems per single plug and perf string, compared to the previous maximum of 40. This solid-state system, designed without wires, mitigates common failure points and offers greater flexibility in well completion designs. Notably, this upgrade does not affect pricing or require additional hardware, aligning with DynaEnergetics' commitment to innovation and enhancing customers' operational safety and profitability.
Positive
- Increased deployment capacity from 40 to 100 DS systems per string enhances operational efficiency.
- The solid-state design reduces common failure points associated with wiring.
- No increase in pricing for customers, maintaining cost-effectiveness.
- No hardware upgrades required, simplifying implementation.
Negative
- None.
News Market Reaction – BOOM
In the trading session that priced this news, BOOM gained 1.46%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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HOUSTON, June 23, 2020 (GLOBE NEWSWIRE) -- DynaEnergetics, a business of DMC Global Inc. (Nasdaq: BOOM), today announced an upgrade to its IS2 TF Intrinsically Safe initiating system. The enhancement enables the deployment of up to 100 of DynaEnergetics’ DS Factory-Assembled, Performance-Assured™ well perforating systems in a single plug and perf string, depending on the length and type of the wireline cable. The IS2 TF (Top Fire) is a wire free, integrated switch-detonator that serves as the technological core of all DS perforating systems. Prior IS2 models allowed for up to 40 DS systems per plug and perf run.
The solid-state IS2 TF was designed without internal or external wires, which are the most common failure points when combining an addressable switch and a conventional resistorized detonator within a perforating system. The IS2 TF, in combination with the compact design of all DS perforating systems, gives exploration and production companies unprecedented flexibility when designing their plug and perf completion programs.
“Completions engineers are seeking to maximize contact with oil and gas reservoirs, and increasingly are designing wells with fewer charges per system, but a higher number of perforating systems per stage,” said Ian Grieves, president of DynaEnergetics. “Our high-count IS2 TF facilitates these complex designs, and mitigates the risk of wiring or communications failures. The upgrade to the IS2 TF does not change the pricing for our customers, and does not require any hardware upgrades. This product enhancement reflects our ongoing focus on innovation, as well as our efforts to consistently enhance the safety, performance and profitability of our customers’ well completion programs.”
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.
| Contact: | Investor Contact: |
| Edwin Reek, | Geoff High |
| Vice President of Product Management and Marketing | Vice President of Investor Relations |
| DynaEnergetics | DMC Global Inc. |
| 713.766.7630 | 303.514.0656 |
| edwin.reek@dynaenergetics.com | ghigh@dmcglobal.com |