GRT ENTERS INTO SERVICE AGREEMENT WITH BOE OIL TOOLS Global Remote Technologies Ltd. (the “Company”) (CSE:RGT), Frankfurt Stock Exchange: GR9) is pleased to announce it has a new customer relationship with BOE Oil Tools (BOE) for the Company’s newly acquired Helix downhole well simulation tool.
The Company’s wholly owned subsidiary, Global Remote Technologies, LLC, has entered into a Services Agreement with BOE for the usage and rental of the newly acquired Helix Tool. Along with this new agreement, BOE and GRT have also begun discussions to expand this relationship throughout the USA and Canada. BOE is a private company with offices in Calgary, AB and Victoria, TX.[url= https://www.boeoiltools.com/] https://www.boeoiltools.com/[/url]. BOE offers custom engineering and field services for applications ranging from high pressure jetting and milling to completions and production.
This new customer relationship achieves an important and significant milestone for the Company and the Helix tool. BOE has begun deploying the Helix Tool on its wells in the Eagle Ford Shale area of South Texas.
Chris Dorris, CEO of the Company, stated, “We are very excited about this new relationship with BOE Oil Tools as an important step towards achieving our goal of 8 new customers this quarter”.
The Helix tool uses a patent pending design and engineering method to achieve unique flow patterns that are more efficient for wellbore cleanouts than any other designs on the market. The Helix tool is a downhole cleaning and simulation technology that combines traditional oscillation and pulse jetting structures into a single pattern. For more information about the Helix tool, equipment, and technology acquired by the Company, please refer to the Company’s news release issued on October 27, 2015.
About Global Remote Technologies
The objective at Global Remote Technologies is to reduce operational costs in the energy domain, specifically the oil sector, with unique, proprietary techniques and technologies that support upstream, midstream and downstream processes. Services are developed to create custom solutions that improve performance, improve health and safety standards, and bring significant savings to clients. GRT operates in rugged locations around the globe, with offices in Canada, Mexico, Oman, and the United States. Global Remote Technologies is a public company, traded in Canada and Germany under the symbols CSE: RGT and FRA: GR9.
Further information about the Company is available under its profile on the SEDAR website, www.sedar.com, on the CSE website, www.thecse.com, and on its website, www.grtcse.com.