NOV Announces a Technology Advancement in the Lifecycle Management of Wellbore Products
NOV has been a leader in using RFID for asset management on existing surface-based products and services; however, the technology behind TracTag has overcome the challenges associated with harsh downhole well conditions and can now be incorporated into NOV downhole products.
The Company also introduced an asset management software, TracAssetTM, and an automated pipe tally system with a wellsite tag reader, AutoTallyTM. The combined system will enable greater capabilities for delivering reliable information and analysis to our customers.
NOV will be able to provide an entire lifecycle management solution for drillstring components that includes information regarding original manufacturing specifications, inspection and repair history, along with usage details. The TracTag and AutoTally system will make it possible to read tags as drillstring components pass through the rig floor; and integration of the system into the rig control system will provide drilling hours and critical drilling information down to the serial number of the component.
Incorporating the information into the global inspection and maintenance systems used by NOV’s Tuboscope Business Unit will provide customers with analytics and other detailed information about pipe inventory that the industry has not been able to collect in the past. NOV’s analytics enhance the lifecycle awareness of work history and associated inspections carried out which will mitigate instances of downhole tubular failure by knowing precisely when and where the tubular or downhole component has been used in a drilling environment in any given well.
Statements made in this press release that are forward-looking in nature
are intended to be “forward-looking statements” within the meaning of
Section 21E of the Securities Exchange Act of 1934 and may involve risks
and uncertainties. These statements may differ materially from the
actual future events or results. Readers are referred to documents filed
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Source:
Investor and Media Contact:
Loren Singletary, 713-346-7807
Vice
President of Investor & Industry Relations
Loren.Singletary@nov.com
or
Customer
Contact:
NOV Wellbore Technologies
Jack Colborn,
713-375-3767
Chief Sales Officer
Jack.Colborn@nov.com