SciDev and Flotek partner to deliver chemistry to a major Eagle Ford Shale Basin drilling program

What's happened?

SciDev Limited (ASX:SDV) has announced that its recently acquired US subsidiary, Highland Fluid Technology Inc., has partnered with Flotek Industries Inc (NYSE:FTK).

What are the key highlights?

1. The partnership will deliver into a purchase order from a major US-based exploration and production company which has operations based in the Eagle Ford Shale Basin and owns and operates over 1,600 wells across Texas.
2. Flotek is a leading provider of high quality, prescriptive oil and gas reservoir chemistries and technologies. The partnership will see the provision of HFT friction-reducing and shale stabilising chemistry to the drilling program, supported by Flotek’s world class manufacturing supply chain.
3. The project follows extensive laboratory testing to validate the quality of HFT’s solutions in the wells and expands HFT product offering into the US oil and gas sector.
4. The trial represents ~USD$0.25m revenue for SciDev.