MESQUITE, Texas, Sept. 14, 2015 /PRNewswire/ -- Fritz Industries, a leading manufacturer of oilfield products, announced today that it has reached an agreement with Baker Hughes Incorporated. Under the terms of the agreement, Fritz is now licensed to offer select flow assurance products to the market. These products were previously custom manufactured exclusively for the Baker Hughes' StimPlus™ Sorb product line. "Fritz has been producing these products exclusively for Baker Hughes under Baker Hughes patents for several years. I believe the value of this technology proves itself and has drawn significant interest from other service companies," said Dan Montgomery, Fritz Industries CEO. "We have seen great success with these products, both cost-saving and environmentally, and are pleased to now offer them to the global marketplace."
The two products, FlowSure™ PI-400 and FlowSure™ SI-503, provide long-term paraffin and scale control for the oil and gas industry. Fritz Industries' FlowSure™ products are added to the proppant pack and placed deep into the formation, where they can inhibit deposition and reduce costly production problems.
FlowSure™ PI-400, a controlled release solid paraffin inhibitor, decreases costs by reducing downtime caused by paraffin in the near-wellbore area and can decrease costly interventions. Because the product is dry, it is environmentally preferable to conventional liquid additives without sacrificing performance. Read more about FlowSure™ PI-400
FlowSure™ SI-503 is a controlled release solid scale inhibitor that has been utilized in thousands of hydraulic fracturing jobs across the U.S. and Canada. Historical data shows that the scale inhibitor can be effective up to 5 years. It is cost-efficient, increasing production and reducing downtime due to scale in the near-wellbore area, and ideal for remote locations with operational obstacles. Read more about FlowSure™ SI-503
"Since entering into this license agreement with Baker Hughes, we have identified several leads with new and existing clients for our FlowSure™ product line," said Walter Fortin, Senior Director of Sales and Marketing. "We are anticipating that this new opportunity will be a huge win for both our customers and our company."
The FlowSure™ product line is compatible with most common stimulation fluids. For more information about the products or for a product sample, contact OilSales@fritzind.com.
About Fritz Industries, Inc.
Fritz Industries is an employee-owned company specializing in applied chemistry and innovative manufacturing. Founded in 1956, it has grown into an international manufacturing company serving hundreds of customers around the world. The oilfield division offers a complete portfolio of oilfield products applied in hydraulic fracturing, drilling, cementing and production enhancement. Fritz Industries also offers custom manufacturing and product development for the oil and gas industry. For more information about Fritz Industries, visit: www.fritzind.com.
About Baker Hughes Incorporated
Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company's 49,000-plus employees today work in more than 80 countries helping customers find, evaluate, drill, produce, transport and process hydrocarbon resources. For more information about Baker Hughes, visit: www.bakerhughes.com.
FlowSure™ PI-400: http://www.fritzind.com/wp-content/uploads/FS_PI-400.pdf
FlowSure™ SI-503: http://www.fritzind.com/wp-content/uploads/FS_SI-503.pdf
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/fritz-industries-inc-brings-innovative-long-term-scale-and-paraffin-inhibitor-solution-to-customers-globally-300142352.html
SOURCE Fritz Industries, Inc.