A north-east well technology company has sold 150 of its perforation guns in North America last month, scooping up more than £173,000 in the process.
Delphian Ballistics said it has a hefty order book for its TriStim guns, which are built to order, and is projecting sales worth £2million in 12 months.
The firm, founded in 2013, claims its perforation gun can “unlock efficiencies” and increase well flow performance by 50%.
A total of £3.5million was invested in its development.
The company has signed a collaboration agreement with a Canadian service provider and is poised to sign up more partners in New Zealand, the US and the Middle East.
A large order is already en route to New Zealand, said bosses at Delphian, who are confident of hitting their revenue target of £20million next year. The Aberdeen firm’s managing director, Stuart McLeod, said the completion of its breakthrough onshore fracking project in Oklahoma last year proved the technology is effective.
Mr McLeod said: “Our project in Oklahoma affirmed the merits of TriStim and showed it has the capability to significantly enhance fracture dynamics. It is also a major part of the solution to maximise production from conventional wells and ageing infrastructure.”
Mr McLeod has a track record for setting up international companies and also managed company sales and acquisitions.
He established his first oil and gas service company in 2002.
In 2005, he merged the business into energy services company Qedi before securing a £33million sale to engineering and project management giant Amec.