DEEP CASING TOOLS
INNOVATIVE DOWNHOLE TECHNOLOGY ON THE UP
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DEEP CASING TOOLS
I PROFILE
Deep Casing Tools develops unique, patented downhole solutions for the global energy sector. The company is known for pushing the boundaries of innovation and challenging conventional target depth technology, while working closely with customers. Hannah Barnett spoke to CEO David Stephenson and Global Sales & Marketing Manager Eoin Wood to learn more.
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D
eep Casing Tools is redefining the
industry landscape. The company’s newly launched Balanced
Energy Solutions brand encompasses a suite of innovative technologies which minimise environmental impact by maximising operational efficiency. “We absolutely understand that there needs to be an energy transition, but we also understand that the world is reliant on hydrocarbons, so we cannot change overnight,” David Stephenson, CEO, explained. “We must work together
90% of Deep Casing Tools’ revenue
across the older and newer energy sec-
comes from work overseas, but the
tors. All the technology that we design,
company manufactures everything at its
sell and run is not only about saving a
HQ in Aberdeen, where it has now moved
customer money, but also saving them
into an updated facility. There is also
time, by increasing predictability and effi-
a newly-opened office in Saudi Arabia,
ciency in operations. Any time saved at
which, alongside another in the UAE,
a rig reduces carbon emissions.”
means the company can service tools
Deep Casing Tools was founded in 2010,
locally for projects in these countries.
with a new management team, including Mr Stephenson, appointed in 2017 with the
Tools for innovation
goal to broaden the product offering. Since
One flagship project from the Balanced
then, the company has commercialised
Energy Solutions brand is the Rubblizer. The
several tools with secure global IP patents
award-winning tool supports sustainable
and recently achieved a cumulative
P&A activity and significantly reduces rig
revenue of £50 million. Turnover for 2023,
time, with trial results showing that up to
specifically, was around £15 million.
60% less force is required to pull a casing following a run with the tool. “Abandoned wells need to be made safe,” said Mr Stephenson. “If you can plug, abandon and decommission those wells, in as quick, efficient and predictable manner as possible, then it’s a good thing for the environment. “Deep Casing Tools conceived, designed, tested and have now commercialised the Rubblizer. We’ve run it everywhere from
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DEEP CASING TOOLS
I PROFILE
West Texas, through the North Sea, across
Manager. “And we’ve been talking with a
the Middle East, China and Australia. So,
lot of companies in various sectors. I’ve
we’re building a truly diverse track record
been speaking to a geothermal company
for the product. We also see the potential
in the Netherlands about the use of some
to design and commercialise systems
of our technologies, which are completely
around it and are investing money and
applicable, because this sector involves
time into that expansion.”
drilling holes in the ground to power cities.
Customers have recorded that the use
“We have already been involved with
of tools like the Rubblizer, and others
a geothermal project in Munich, too. And
produced by the company, delivered an
we were speaking to people in the US last
average project time reduction of at least
week about using one of our tools for
three days, saving approximately 900
a geothermal job in Utah, which was very
tonnes of CO2 emissions on an offshore
interesting. So, our products are applicable
platform, 210 tonnes on an offshore semi-
to different scenarios.”
submersible platform and 90 tonnes on a land rig. “Long term, we see the emergence of
Clever collaboration Another innovative product is the
other markets for these products too,”
MechLOK™ Drill Pipe Swivel, the world’s
said Eoin Wood, Global Sales & Marketing
first mechanically lockable drill pipe swivel.
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It allows the drill pipe to be rotated independently of the work-string, resulting in reduced drag, redistributed friction and mitigation of helical buckling. This, in turn, allows the increased weight of the tool to help push the liner string into the well to the target depth. Deep Casing Tools has been collaborating with Equinor for the last two years to develop three separate versions of MechLOK and has now had 11 successful runs with the Norwegian energy giant. “That achievement has come through listening to the customer and collabo-
eration with our partners and customers to find this tailored solution.
rating, along with all the other service
“The tool has performed flawlessly,
companies who are involved in com-
saved Equinor lost time and reduced
pleting these wells,” said Mr Wood. “And
carbon emissions as a result. It’s been
they’re very complicated, challenging
really rewarding. There was recently an
jobs. But we have been working in coop-
article published about our work in the
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DEEP CASING TOOLS
I PROFILE
Equinor internal magazine. So, we’ve
“They supply probably 65 per cent of
obviously done something right and
our components,” he said. “And we work
everyone’s happy.”
together, committing to them long term. At the beginning of the year, we order a
Partnership and synergy
year’s worth of equipment in advance,
The strategic collaboration with Equinor
at three or four million pounds. As a result,
demonstrated Deep Casing Tool’s flexibility
they give us favourable payment terms
as a company, as well as its ability to listen
that means we can minimise the impact
and respond to the needs of its customers.
on our cash flow. 2024 marks the third
The company also maintains similarly
year of that agreement with them and
strong relationships with its suppliers.
we’re very happy with it. So, we are not
Indeed, these trustworthy agreements
only relying on customers, but we are also
are vital for a growing company like Deep
relying on suppliers.”
Casing Tools. Mr Stephenson pointed to the
Deep Casing Tools is set to sustain its
Coventry-based MNB Precision as a partic-
growth, while continuing to produce inno-
ularly significant relationship.
vative, efficient technology for the oil and
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gas sector, and beyond. Mr Stephenson
Also, I love seeing projects from cradle to
explained that being CEO of a small but
grave, getting involved early in the planning
highly innovative company is an inspiring
phase all the way through to the execution
job to have: “I love the diversity of my role.
of a successful job. When the customers
I might be in a board meeting one minute
come back, because of the trust they have
and out running tools the next.
in us as a company, it is hugely satisfying.”n
“I love being part of it, I can walk through to the workshop, talk to people and contribute to the sales force. I love building teams and we have an outstanding team of people. There’s not one person in the building who I don’t interact with on a daily basis.” “I love, the flexibility of working here,” added Mr Wood, in conclusion. “Just today, for example, I’ve been speaking to people in Australia, Malaysia, Abu Dhabi and the Netherlands. And to me, that’s exciting.
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