Red Spider is launching two new game-changing products to the US market at a key industry event.

The UK-headquartered company recently expanded into the North American market, opening a base in Houston and appointing US sales manager John O'Hara.

Red Spider is exhibiting at the SPE/ICoTA Tubing & Well Intervention Conference & Exhibition in Woodlands, Texas, from April 5-6. The company has invested nearly $2.5million in the last quarter in increasing its fleet of products to ensure it can respond to growing customer demand.

eRED, Red Spider's first tool to use its patented remote open close technology for pressure testing applications, has been used in 12 fields. The technology is on its way to becoming the industry standard solution for various downhole applications.

The valve has allowed North Sea operators to save up to $900,000 during a single subsea completion operation, typically reducing slickline runs from 8 to 1. In subsea workover operations savings of up to 41 hours and $800,000 have also been recorded in a single job.

It quickly became apparent from the eRED's continuing success that there were other potential applications for Remote Open Close Technology in the completion of wells. Further customer requests led to over $3million of investment and over two years of extensive research and development work which has resulted in the two new products - PowerBall® and the eRED-FB (a completion placement valve).

John O'Hara said: 'There is enormous potential for our products in the US and South America and we have had high levels of interest resulting in ground-breaking project work in this region. The conference is an excellent forum for us to show our new completions technology to a highly-relevant audience.''

Red Spider worked with ITF, the oil and gas Industry Technology Facilitator, on product development and commercialisation of eRED-FB, a completion placement valve that can save around 32 hours rig-time by eliminating the need for any interventions during the operation. It is essentially a tubing mounted eRED, permanently deployed as part of the tubing string which, when open, provides a full through-bore for well fluids. The eRED-FB is particularly suited to completion placement operations and development work with ITF ensured alignment of the new product with client requirements.

PowerBall® is a pioneering reservoir isolation barrier that prevents fluid loss during the upper completion phase of well construction. Its increased reliability will differentiate it from its competitors, and could potentially save operators more than $750,000 per operation by delivering major time reductions in subsea operations and significantly enhancing safety.

Red Spider worked with ITF again on development and commercialisation of PowerBall®. Well-documented challenges exist within the industry during well completion activities as the technologies utilised are often exposed to large amounts of debris, leading to operational failure and costly shutdown time.

Tags: Red Spider Technology