Cementing Division Growth
Cementing revenue increased by approximately 20% from Q2 to Q4 of 2024, with the Cementing division being the largest driver of revenue and profitability gains. Cementing market share increased by approximately 14% over Q4 2023.
Innovative Product Developments
Introduced new Pincer hybrid frac plug and added a frac start element to the Scorpion Plug. The Stinger dissolvable plug is expected to facilitate longer lateral lengths without compromising reliability.
Cost-Cutting and Efficiency Measures
Implemented cost-cutting measures and market share gains across service lines and basins, resulting in increased profitability even in a declining rig count environment.
Sustainability and Safety Achievements
Launched first sustainability report in 2024 and achieved a 22% decline in Total Recordable Incident Rate (TRIR) from 2023.