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MarketScreener Homepage  >  Equities  >  Nyse  >  Frank's International N.V.    FI   NL0010556684

FRANK'S INTERNATIONAL N.V.

(FI)
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Frank International N : International Helps Major Operator Achieve New Company Record for Hook Load Weight

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07/14/2020 | 06:11am EDT

July 14, 2020

Frank's International recently helped a major operator achieve their new company record for hook load/landing string weight on an ultra-deepwater drillship in the Gulf of Mexico. Multiple Frank's technologies and services were deployed to help make the operation a success, highlighting the company's capabilities as a high-value, low risk solutions provider specializing in the most challenging applications.

Following Frank's standard practice, before beginning operations, Frank's engineering, applications, and operations groups completed a detailed technical analysis on all critical items within the load path to ensure successful installation of the heavy string. This included performing a slip crush analysis on the landing string to ensure the integrity of the tubular would be safely maintained during land out of the casing string. The results from this analysis concluded that the Frank's 1,500 Ton Landing String Spider would be the optimal solution for the job to help minimize risk. Frank's also analyzed the critical load path elements within the Wireless Gen II Cement Head and SKYHOOK® Cement Line Make Up Device to ensure the structural integrity of these technologies would be safely maintained during cementing operations.

During the operation, Frank's provided surge modeling that was adjusted for real-time parameters based on results from running the string and current rheology. This resulted in zero losses while running in hole.

In total, the casing was 20,874 feet in length with a water depth of 4,520 feet and a company record-breaking final hook load of 2,402,800 pounds before land out. The Frank's load bearing technologies that were used during the operation include the Wireless Gen II Cement Head, SKYHOOK® Cement Line Make Up Device, 1,250 Ton Drill Pipe Elevator, 1,500 Ton Landing String Spider, 100 Series Diverter, Diverter Test Device, and Large OD Isolation Valves. The combined solutions from Frank's TRS and Cementing Technologies divisions provided a safe and efficient operation while handling the extreme load.

Disclaimer

Frank's International NV published this content on 14 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 July 2020 10:10:05 UTC

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Financials (USD)
Sales 2020 418 M - -
Net income 2020 -99,0 M - -
Net cash 2020 235 M - -
P/E ratio 2020 -6,70x
Yield 2020 -
Capitalization 605 M 605 M -
EV / Sales 2020 0,89x
EV / Sales 2021 0,85x
Nbr of Employees 3 100
Free-Float 68,2%
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 3,38 $
Last Close Price 2,68 $
Spread / Highest target 95,9%
Spread / Average Target 25,9%
Spread / Lowest Target -25,4%
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Managers
NameTitle
Michael C. Kearney Chairman-Supervisory Board, President & CEO
Steve Russell Senior Vice President-Operations
Melissa L. Kling Cougle Senior VP, Chief Financial & Accounting Officer
Nigel Malcolm Lakey Senior Vice President-Technology
Kirkland D. Mosing Director-Supervisory Board
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