Geolograph Pioneer Seeks $50 Million Pact with China / for Solids Control Equipment
Case, Patti, THE JOURNAL RECORD
Until the contract is finalized, an event expected sometime in the next eight months to one year, Geolograph will supply China with the equipment, beginning with a $1.7 million order the company has already received, Travis Brown, board chairman, said Thursday.
The company will negotiate another solids control equipment order contract in November, Brown said.
The current machinery order has already resulted in 23 employees returning to work, with another 15 more anticipated.
Another five persons will be engaged in training in China itself, with plans to bring Chinese technicians to the U.S. for training.
Some 40 persons have been laid off by the company this year, Brown said, with the total number of layoffs in the last three years near 300.
Geolograph is the leading solids control manufacturer in the world, with equipment in 65 countries, according to Brown.
When the 5-year contract is complete with the Chinese government's minister of petroleum, China will be licensed under Geolograph's patent to build its own solids control equipment.
Geolograph will contract to train the Chinese workers to manufacture the solids control equipment. The firm will serve as the primary solids control supplier for the China drilling industry duringthe training period.
"They have a total of 1,800 rigs in China," Brown said. "But only five have solids control equipment."
Solids control equipment helps eliminate rock cuttings - "solids" - that are created by the drilling process. …