Welltec Wins OTC 2013 Spotlight on New Technology Award

COPENHAGEN, Denmark, March 13, 2013 /PRNewswire/ --

Welltec's latest e-line innovation, The Well Cutter^®, has won the OTC Spotlight on New Technology award as one of the latest, most advanced technologies that are leading the industry into the future.

"We're very proud to win this prestigious award with our Well Cutter^® and even more proud of the way it's been received by our clients. On its first job, a 4 ½" 12.6 #/ft tubing in a well offshore Russia, the operator was so satisfied that he claimed the Well Cutter^® provided the 'perfect cut'," says Lars Mangal, Chief Commercial Officer, Welltec

The 'perfect cut' is enabled through robotic, e-line technology providing accurate depth control. The tool uses a self-centralizing rotating head to remove pipe incrementally, preventing the creation of shavings. The tool can cut pipe in a physical state of tension or compression.

"The resulting cut is a smooth, polished surface, which may preclude the need for a polishing trip," explains Niels Falkenberg, Chief Technology Officer, Welltec.  

"The Well Cutter^® delivers efficient drill pipe and casing recovery without explosives, leading to important HSE and operational improvements. Explosives can pose an operational risk, especially when simultaneous operations are being conducted. And the transfer of explosives can create additional logistical challenges, which may lead to operational delays." he adds.

Considering the cost of rigs, complex logistics and exposure to personnel, the Well Cutter^® offers a safer, faster, reliable and more cost-effective approach to cutting drill pipe and casing.

Each year OTC recognizes innovative technologies with the Spotlight on New Technology Awards. To win, the technology must be less than two years old, innovative, original and proven either through full-scale application or successful prototype testing. It should have a broad interest to the industry and provide significant benefits beyond existing technologies. The environmental impact is also an important judging criterion.

The Well Cutter® will be on display at the Welltec booth #1453 at OTC 2013 in Houston, May 6-9.