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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Vallourec    VK   FR0013506730

VALLOUREC

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28.52 EUR   -7.42%
11/18VALLOUREC : third quarter and first nine months 2020 results
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11/18VALLOUREC : third quarter and first nine months 2020 results
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11/18VALLOUREC : 3rd quarter results
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Vallourec : Our intelligent pipes become your eyes inside the well

10/26/2020 | 08:55am EST
Vallourec's intelligent pipes become your 'eyes inside the well'

26/10/2020 - Digital

After two years of co-development with OpenField Technology, a startup specializing in micro-sensors, Vallourec is launching its Intelligent Pipe technology, a highly performing solution for well monitoring. Simple and easy to use, it will become your eyes inside the well. Thanks to the data collected via this technology, intelligent pipes are contributing to protect our planet by preventing environmental issues.

Vallourec & OpenField Technology: an Open Innovation success story

In 2017, Vallourec launched its first Open Innovation challenge. Dedicated to all things 'smart tubes', this challenge saw more than 40 start-ups and companies from around the world submit ideas. Preselected among these companies, OpenField Technology was invited to pitch its proposal, 'OpenField measurements in pipes', in front of an international judging panel and was selected as the winner of the challenge.

Since 2018, Vallourec and OpenField Technology teams have been collaborating together in order to co-develop an innovative monitoring solution involving sensors directly embedded in the pipes which monitor the entire wellbore of customers' wells. After testing different concepts and design simulation loops, Vallourec is now launching a qualified solution, compatible with any well design.

Openfield Technology provided to this project all its expertise in the fields of sensors and transmission-telemetry methods. They were in charge of developing the sensors and monitoring system and reducing its size to be able to fit it depending on the customers' dimensional well constraints. The startup also managed the communication between the different modules.
Discover Vallourec's Intelligent Pipe
Eyes
Looking for enhanced well integrity? Missing real-time data? Vallourec is developing new solutions.

Securing well integrity, optimizing production and monitoring potential impact

The intelligent pipe solution anticipates well integrity issues that customers can encounter during the life of their wells, from running to production and up to decommissioning. By providing in real time the pressure and temperature of all zones of a well, even of - so far - inaccessible areas, the solution helps operators to anticipate any abnormal situation presenting a risk for the integrity of the well, thus guaranteeing the safety of both the teams on-site and of the environment.

Moreover, our technology combined with the Vallourec tubular database1 brings to our customers a new lever to optimize their operations. Indeed, by comparing the real pressure and temperature in the well to the actual pipe resistance, customers will be able to adjust their production parameters and optimize the well operations.

Last but not least, our solution gives access to data related to geological formations beyond the casing, which facilitates impact management. By opening a window on the casing, Vallourec's Intelligent Pipes provide direct information on the well environment, such as characterizing moving salt formations or determining the efficiency of the injection process.

A technology that is not just for oil and gas wells

Many oil & gas customers have already shown great interest in this solution which has the potential to grow significantly. A first field trial is planned early 2021. However, Vallourec's Intelligent Pipe solution is not only applicable to oil & gas industry. It can be used for monitoring of CO2 storage wells, where the integrity and absence of leaks for decades are of prime importance. It can also be applied to hydrogen wells to facilitate storage integrity monitoring.
Partnership
Quote

Thanks to our partnership with OpenField Technology, initiated as part of our Open Innovation Challenge, Vallourec is able to offer to customers its Intelligent Pipe service including a visionary well monitoring, with sensors directly embedded in the pipes. The in-situ data, associated to the real tubular dataset will help reinforce and characterize wells' integrity and performance, contributes to the protection of our environment.

Didier Hornet Senior Vice President Development & Innovation at Vallourec
Collaboration
Quote

The collaboration with Vallourec is a perfect match. We design and build the unique technology enabling multi-annular monitoring while Vallourec brings in all its expertise on well architecture and tubular deployments. Meeting the challenges of tomorrow would not be possible on a global scale without such a partnership.

Emmanuel Tavernier R&D Manager at OpenField Technology
1 Vallourec pipe database gives you access to the actual individual pipe performances (burst, collapse, axial loads)

About Openfield Technology

OpenField Technology is a startup specializing in micro sensors for downhole applications in the Oil & Gas industry. The start-up offers micro instruments and expertise to provide data that can enable enhanced recovery capabilities and safer operations to well operators. OpenField Technology has become an innovative actor in the instrumentation of harsh environments through continued R&D. The goal of the company is to improve efficiency, reliability, ease of use, and the accessibility of sensing technologies for harsh conditions at the bottom of wells and in emerging energy markets. They are present in France, Asia & Middle-East and USA.

Disclaimer

Vallourec SA published this content on 26 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2020 13:54:07 UTC


© Publicnow 2020
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Financials
Sales 2020 3 369 M 4 037 M 4 037 M
Net income 2020 -636 M -762 M -762 M
Net Debt 2020 2 358 M 2 826 M 2 826 M
P/E ratio 2020 -0,58x
Yield 2020 -
Capitalization 352 M 421 M 422 M
EV / Sales 2020 0,80x
EV / Sales 2021 0,84x
Nbr of Employees 19 000
Free-Float 81,9%
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Mean consensus UNDERPERFORM
Number of Analysts 10
Average target price 21,76 €
Last Close Price 30,81 €
Spread / Highest target 29,8%
Spread / Average Target -29,4%
Spread / Lowest Target -83,8%
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Edouard Frederic Guinotte Chairman-Management Board
Vivienne Cox Chairman-Supervisory Board
Olivier Mallet Chief Financial Officer
Philippe Carlier Senior Vice President-Technology & Industry
Pascale Chargrasse Member-Supervisory Board
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