McCOY GLOBAL ANNOUNCES RECEIPT OF SIGNIFICANT CONTRACT AWARD FOR ITS RECENTLY DEVELOPED ENHANCED SMART CASING RUNNING TOOL
"Recent trends in the CRT market presented an opportunity for McCoy to challenge our Technology team to expedite the development of our enhanced smartCRT™ to meet these market requirements," said
In the first quarter of 2024, National Oil Companies (NOCs) and major operators in certain key regions announced new Casing Running Tool (CRT) requirements for future contract tender awards, impacting the CRT market in these regions. While the new requirements have hampered order intake for McCoy's CRTs throughout much of 2024, McCoy's enhanced smartCRT™ will not only address the new contract requirements, but also offer an intelligent, connected enhancement to conventional casing running tools available today. This tool provides superior safety, efficiency and simplified operating procedures along with real-time data collection and analysis capabilities. This technology mitigates the risk of conventional CRT, while providing actionable insights that optimize future performance. We anticipate that new tool enhancement will provide McCoy with a competitive advantage going forward.
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