Fortress Downhole Tools announces the first Completion Plug and Perf “Pay Per Stage” Recycling Setting Tool Program
Fortress Downhole Tools developed a proprietary Wireline Setting Tool, branded as “Cyclops“ (Cycling Operations) designed to replace conventional and disposable wireline setting tools. The Patent Pending setting tool includes a proprietary dampening stage,dual self-bleed off which will safely and efficiently set any frac plug without hydrostatic limitations. The cost savings (50 to 60% less expensive than disposable setting tools per run), simplicity and compact size of the Cyclops is what separates itself from all other setting tools on the market today. Fortress is offering the Cyclops Setting Tool in conjunction with our Cyclops Efficiency Program (CEP). The Program allows our customers to realize 1) overall cost savings, 2) streamline Setting Tool field deployments, 3)improve cash flow with e-consignment and many other additional benefits. 4) Run tracking with smart phone and PC.
Broussard, Louisiana – Effective July 15, 2019, Fortress Downhole Tools (Fortress) and IQ Scan® Technology (IQ Scan) announce the execution of a worldwide exclusive License Agreement specific to downhole tools in the Energy Sector and will be marketed under the iFortress trademarked name. The innovative asset management solution developed by IQ Scan combines a 2D laser-engraved coding system with a robust cloud-based software platform to deliver a complete tracking solution of durable assets from cradle to grave. The iFortress technology has capabilities to track the number of runs on wireline setting tools or calculating run time efficiencies on a fleet of fluid ends, thus giving our customers the knowledge to make key decisions and gain critical insights into the usage and life expectancy of their assets. “We are delighted to consummate this transaction with IQ Scan in order to deliver a world-class tracking solution for our customers,” says Michael Robicheaux, President/CEO of Fortress. “We have been receiving requests for holistic tracking functionality, and iFortress powered by IQ Scan demonstrates that it can deliver solidly on that request.” “IQ Scan Technology is pleased to partner with Fortress to provide our system to iFortress”, says Glen Clark, CEO of IQ Scan Technology.…