EUCLID, Ohio--(BUSINESS WIRE)--Terves Inc. (“Terves”) is pleased to announce that it has added 5 CNC lathes and mills to keep up with demand for component build-to print services for TervAlloy™ magnesium and Elementum™ elastomeric dissolvable materials that enables Terves to offer both rapid prototyping and complete part-production capability.
“Terves is primarily a manufacturer of magnesium alloys and dissolvable materials for the oil and gas industry. Due to some of the unique characteristics of magnesium, many of our customers outsource component machining and have long and uncontrollable lead times for prototype and production jobs. While we work with a number of local machine shops qualified to handle magnesium, we wanted to ensure that we not only offer the highest value dissolvable materials but also cost and delivery-time enhanced machine-to-print services to delight our customers. We are now a one-stop shop for dissolvable tool manufacturing – allowing our clients to focus on key areas of tool design improvements, field operations and customer service. We have now added several new employees to our team with decades of machining and manufacturing experience which gives us the ability to handle all aspects, from raw material production to machining, assembling, inspection, testing, packaging, and chip (waste) recycling or disposal. The additional machines expand our capabilities, including live tooling and 5 axis capabilities that reduce or eliminate the need for complex tooling, reducing cost and lead times of critical prototype production,” said Mr. Andrew Sherman, CEO of Terves.
From 2-4 dissolvable frac plugs being used towards the toe end of a wellbore, to using dissolvable frac plugs throughout the 30-50+ stages of the wellbore – dissolvable tools are now transitioning from a nice-to-have to a must-have. In today’s extended lateral drilling environment, lightweight dissolvable plugs, dissolvable balls, and interventionless tools developed using dissolvable and reactive materials technologies offered by Terves can go beyond coiled tubing reach to increase production; potentially eliminating the need for intermediate casing and liner, reducing water usage, and simplifying operations. Several companies are now planning 50-100 stages for each well since dissolvable tools can now eliminate the limitations of coiled tubing reach and enable 30+% higher production from each well.
With the widest range of dissolvable metals, polymers and metal matrix composites, Terves is the technology and value leader in the industry. Terves has a portfolio of 40+ published, pending and provisional patents that not only cover the lowest-cost highest-value dissolvable products but also enabling technologies such as tracers, chemical delivery in a dissolvable carrier, coatings, etc. that further augment the value of dissolvable tooling in the oil and gas industry.
Terves is the technology and cost leader in the development, manufacturing and sale of Engineered Response™ smart materials for the oil and gas industry. Terves’ intelligent materials sense and respond to their local wellbore environment to “do more”, such as dissolve, change dimensions, generate force or heat, destroy chemicals or bacteria, bond together, or solubilize and disperse based on change in time, temperature, pressure, PH, electrostatic charge, or other change in the local environment.
Terves is the leading manufacturer of dissolvable metals and dissolvable elastomers that are used for making frac balls, plugs, slips, seals and several other components used in oil and gas well completion and production; and have been used for completing tens of thousands of stages in North America, Europe, South America, Asia and MENA regions. Terves’ product portfolio also includes highly-engineered specialty proppants, expandable materials, acoustic imaging tools, thermites and structural reactive materials, net-shaped ceramic-metallic (cermet) nanocomposites, and high energy density supercapacitors. Terves is a strong materials science research-based and product-focused organization that works with oil and gas majors, operators, EPCs and OEMs to develop and commercialize compelling technologies, products and capabilities for critical challenges in oil and gas exploration, production and completion operations.