- McCoy (MCB) has been awarded multiple contracts in April for 17 Flush Mount Spiders (FMS) totaling C$4.1 million
- Clients include several large, independent U.S. service companies based in West Texas
- The company has sold or rented 32 FMS units since debuting the technology last year
- McCoy Global uses automation and machine learning to maximize wellbore integrity and collect precise connection data critical to the global energy industry
- McCoy Global (MCB) opened with a gain of 2.84 per cent trading at $1.45 per share
McCoy (MCB) has been awarded multiple contracts in April for 17 Flush Mount Spiders (FMS) totaling C$4.1 million.
Clients include several large, independent U.S. service companies based in West Texas.
Delivery is expected over the second half of 2023.
The company’s FMS technology provides casing running service providers with performance and safety advantages, including real-time information on the state of the tool to the driller’s display, back-up torque of up to 50,000 ft.lbs., and removing the need for integrated backups and manual tongs.
The smartFMS Flush Mount Spider. Source: McCoy Global.
Since commercializing the technology in 2022, McCoy has received sales and rental commitments for 32 units.
“These awards have been the result of successful execution of investments in technology development over the past several years,” stated Bing Deng, Vice President Technology & Marketing. “As our customers face increasing challenges related to safety, efficiency and labour constraints, we are committed to utilizing our application expertise and knowledge to develop innovative solutions that meet their evolving needs.”
McCoy Global uses automation and machine learning to maximize wellbore integrity and collect precise connection data critical to the global energy industry. It maintains a presence in more than 50 countries through direct sales and key distributors.
McCoy Global (MCB) opened with a gain of 2.84 per cent trading at $1.45 per share.
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