Weir Oil & Gas Launches Mobile Iron Asset Management Solution

FORT WORTH, Texas, June 06, 2017 (GLOBE NEWSWIRE) — Weir Oil & Gas, a leading upstream provider of pressure pumping and pressure control equipment and services, today announced the launch of a technology that brings greater visibility and functionality to the way service companies manage iron assets from the field.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/1fc680c0-8e76-4bac-8d1d-dfee6ae887c4

Most notably, Weir has developed a mobile application for iPhone or Android devices that furthers its goal of digitizing the oilfield to the benefit of service companies of all sizes. This new app is designed to bring many of the benefits of the previously launched SPM® Asset Management Program (AMP) directly to the field.

“Technology has reshaped our industry in a number of ways over the last ten years, but one basic issue that has continued to burden service companies is pinpointing exactly where all of their iron is located,” said Chris Hibbert, Pressure Pumping Vice President of Sales and Service of Weir Oil & Gas. “We set out to not only help them answer that question, but to go a step further in providing a comprehensive history and insight into asset integrity and performance.”

Until now, maintaining an iron fleet was an archaic process that relied on manual data collection. Weir is leveraging the use of Radio Frequency Identification (RFID) technology to register each asset by serial number in seconds. Through this technology alone, a spread of iron can be accounted for in minutes versus hours when compared to the manual process of counting and logging serial numbers by hand. In addition to the substantial time savings, this approach also reduces human error by automating the inventory process.

In fact, a customer utilizing the app witnessed a 79% reduction in time required to inventory a fleet of iron assets.  On top of significantly reducing labor expense, the inventory of roughly 900 pieces of iron was recorded at serial number level detail, where previously it was recorded by product type only. 

With SPM® AMP and the newly launched mobile app, users are then able to assign assets by crew or unit as well as view Weir inspection certificates, so asset managers know the status of each piece of iron and its location within the fleet in real time.  Thus, these significant gains in efficiency and accuracy provide asset visibility, which can translate to improved safety in the field.

Companies required to show inspection certificates on the jobsite can now quickly access them through the Weir app and email them to any Exploration and Production company representative as needed. This eliminates the time-consuming task of searching stacks of paper for certificates, allowing operators to focus on productivity.

Weir has placed RFID tags on all iron leaving its factory dating back to 2015. This forward-thinking approach now enables Weir to provide value-added services that can be expanded in the future. Weir also has the capability to retrofit older or competing iron on behalf of its customers.

Weir is committed to furthering technology that offers customers greater visibility into their pressure pumping and pressure control systems. The launch of the SPM® RFID mobile app follows Weir’s Pressure Control Intelligent Systems announced at OTC last month, which effectively removes the guesswork from managed pressure drilling and flow back operations.

About Weir Oil & Gas
Weir Oil & Gas provides superior products and service solutions, which make our upstream customers more efficient. More customers choose our pressure pumping solutions than any other. We provide well service & stimulation pumps, flow control products and replacement expendable parts from leading brands including SPM, Mesa and Novatech.  Pressure Control includes trusted brands such as Seaboard, which provides wellheads, valves and frac trees, and Mathena, which delivers drilling mud-gas separation equipment including chokes, separators, & environmental containment equipment. Engineered mechanical and rotating equipment repairs and upgrades, oilfield and drilling equipment repair and certification, rapid prototyping of spare parts, robust asset management and field engineering services, are delivered globally by Weir Oil & Gas Services based in Dubai, UAE.

Weir Oil & Gas is part of The Weir Group PLC.  Founded in 1871, Weir is one of the world’s leading engineering businesses with 14,000 people operating in more than 70 countries. Discover more at www.global.weir.

CONTACT: Press Contact:
Weir Oil & Gas
April Lynch, Pennebaker
[email protected]
Phone: 1+ 713-922-1895

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