The TReX technology was first introduced to the drill bit market by ReedHycalog in 2002 and has resulted in a step-change in drill bit performance and commercial value.
Michael McShane, President and Chief Executive Officer of Grant Prideco, commented, "After numerous months of negotiation, we are pleased to consummate this business relationship with Smith, which we believe allows ReedHycalog to further capitalize on the commercial and technical vale of its TReX technologies."
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