Expro Celebrates Milestone Achievement With Completion of 100th Global SeaCure® Job

Rhea-AI Summary

Expro (NYSE: XPRO), a leader in energy services, proudly announces the completion of its 100th global SeaCure® job. This milestone was achieved as part of a five-well subsea batch campaign in Australia, showcasing Expro's advanced cementing technology originally developed by DeltaTek.

The SeaCure® system, utilizing a unique inner string technique, ensures reliable primary cementation of conductors and reduces risks associated with cement slurry placement. Expro's commitment to innovation and exceptional service is further emphasized by this accomplishment.

Alistair Geddes, Chief Operating Officer, highlighted the importance of effective cementation, the success of the SeaCure® system, and Expro's dedication to providing cutting-edge solutions to clients worldwide. The acquisition of DeltaTek in 2023 has expanded Expro's capabilities in well construction cementing.

Expro employs around 8,000 staff across 60 countries, offering comprehensive well lifecycle services and innovative energy solutions.

Positive

• Completion of the 100th global SeaCure® job demonstrates successful technology deployment.
• The milestone was part of a complex five-well subsea batch campaign in Australia.
• SeaCure® technology reduces risks in cement slurry placement, ensuring reliable cementation.
• Expro's acquisition of DeltaTek in 2023 has expanded its technology and service capabilities.
• SeaCure® technology is an innovative solution improving well integrity and reducing cost overruns.
• Expro’s global footprint helps accelerate DeltaTek’s international deployment ambitions.
• Company emphasizes commitment to innovation, technology development, and client value.
• Expro operates in approximately 60 countries with around 8,000 employees, providing extensive energy services.

Negative

• No specific financial data provided to assess revenue impact from the milestone.
• Potential risks associated with reliance on a single technology for cementing operations.
• Lack of detailed cost analysis for SeaCure® technology deployment and execution.
• General statements on technology and service quality without concrete performance metrics.

HOUSTON--(BUSINESS WIRE)-- Expro (NYSE: XPRO), a leading provider of energy services, has successfully completed its 100^th job globally of its field-proven cementing technology, SeaCure^®, marking a significant milestone.

(L to R): Expro senior product line manager, Tristam Horn alongside chief operating officer, Alistair Geddes (Photo: Business Wire)

The completion of this landmark project emphasizes Expro's commitment to delivering innovative solutions and exceptional service to its clients worldwide.

The 100^th SeaCure^® job was completed as part of a project in Australia consisting of a five-well subsea batch campaign, highlighting Expro's expertise in providing comprehensive solutions for complex offshore operations.

SeaCure^® technology, which was originally developed by DeltaTek, played a pivotal role in maintaining the quality primary cementation of the conductors while mitigating a number of risks associated with placement of the cement slurry. This was achieved through Expro's proprietary stabbed-in inner string technique, which is unique to the Company's cementing portfolio. By utilizing the SeaCure^® system and implementing post-cementing circulation via the inner annulus until slurry curing was complete, Expro successfully engineered the risk to the minimum, providing reliable installation of the top holes.

Throughout the five-well Australia project, Expro delivered exceptional results. The successful completion of the fifth well marked the 100^th global SeaCure^® deployment, further solidifying Expro's position as a trusted partner in the energy industry.

Commenting on this milestone achievement, Alistair Geddes, Expro’s Chief Operating Officer, said: "Reaching our 100^th global SeaCure^® job is a testament to the dedication and expertise of our team, as well as the strength of our technology and solutions. We are proud of providing the platform for Tristam Horn and the legacy DeltaTek to expedite their growth journey and quest for providing innovative solutions to our clients.

“Ineffective cementation is one of the single biggest contributors to cost over-runs, poor life of well integrity and ultimate failure of well objectives. Expro’s robust Cure portfolio has been developed to solve many of the issues associated with cementing subsea wells with the aim of delivering first time ultimate cement placement. SeaCure^® is an example of Expro’s commitment to investing in innovation, developing new technologies and delivering value and excellence to our clients globally."

Expro acquired DeltaTek in 2023 to broaden Expro’s offering, capabilities, and technology portfolio within the well construction cementing sector, while accelerating DeltaTek’s international deployment ambitions through Expro’s global footprint.

Notes to Editors:

Expro

Working for clients across the entire well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the Company considers to be best-in-class safety and service quality. The Company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions.

With roots dating to 1938, Expro has approximately 8,000 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in approximately 60 countries.

For more information, please visit expro.com and connect with Expro on X (formerly Twitter) @ExproGroup and LinkedIn @Expro.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release, and oral statements made from time to time by representatives of Expro Group Holdings N.V. (“the Company”), may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the delivery of safe, reliable technology, and future growth, and are indicated by words or phrases such as “anticipate,” “outlook,” “estimate,” “expect,” “project,” “believe,” “envision,” “goal,” “target,” “can,” “will,” and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company’s expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240520092128/en/

InvestorRelations@expro.com

MediaRelations@expro.com

Source: Expro

FAQ

What is Expro's SeaCure® technology?

SeaCure® is Expro's advanced cementing technology, initially developed by DeltaTek, ensuring reliable primary cementation of conductors and reducing risks associated with cement slurry placement.

How many SeaCure® jobs has Expro completed globally?

Expro has completed its 100th global SeaCure® job, marking a significant milestone for the company.

Where was Expro's 100th SeaCure® job completed?

The 100th SeaCure® job was completed as part of a five-well subsea batch campaign in Australia.

When did Expro acquire DeltaTek?

Expro acquired DeltaTek in 2023 to broaden its capabilities and technology portfolio within the well construction cementing sector.

What are the benefits of Expro's SeaCure® technology?

SeaCure® technology ensures reliable primary cementation of conductors, reduces risks associated with cement slurry placement, and helps improve well integrity while reducing cost overruns.

What is Expro's role in the energy services industry?

Expro is a leading provider of energy services, offering innovative and cost-effective solutions across the entire well lifecycle, with operations in approximately 60 countries and around 8,000 employees.