US Synthetic, the leading provider of polycrystalline diamond cutters for oil and gas exploration, and Mitsubishi Materials Corporation, a leading metal and material products company, announced an exclusive license agreement that grants US Synthetic rights to thermally stable polycrystalline diamond technology that delivers superior performance.
Through this agreement, US Synthetic can utilize and develop thermally stable polycrystalline diamond technology that provides oil and gas customers with next generation cutters that are more abrasion-resistant, durable, stable and cost effective. This new technology delivers superior performance to customers in the oil patch, allowing drillers to drill faster than ever before to achieve better Rates of Penetration.
"A thermally stable, diamond-based product that delivers superior performance represents a significant breakthrough for the oil and gas industry," said Mr. Hideaki Yoshida, General Manager, Central Research Institute of Mitsubishi Materials Corporation. "We've been able to create a material that is 100% thermally stable and can significantly reduce micro chipping and thermo-mechanical degradation."
The license agreement with Mitsubishi Materials will allow US Synthetic to apply thermally stable polycrystalline diamond technology to a number of diamond-based applications, significantly adding production life to any diamond-based product. US Synthetic plans to incorporate the technology into a broad range of applications, including oil and gas PDCs, industrial bearings, mining, wire drawing dies, oil and gas wear parts, and heat sink devices used in silicon-based electronic devices. US Synthetic customers will now have access to innovative technology that is thermally stable, tough, and extremely wear resistant.
"Oil and gas drillers all over the world face a significant challenge when they have to drill through tough, hard rock formations," said Dr. Ken Bertagnolli, vice president of research and development at US Synthetic Corporation. "The problem is that the vast majority of drilling tools available aren't equipped to handle the extreme conditions that occur when drilling tools encounter these difficult hard rock formations. Developing a thermally stable technology that can still handle the extreme conditions that result from downhole drilling is a significant discovery."
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