Particle Drilling Technologies Completes the Sale of Its Frac Pumpadmin
Particle Drilling Technologies, Inc. announced that it has completed the sale of its frac pump for $840,000. The frac pump was previously used as part of the Company’s particle injection system, but most recently was only utilized for test purposes at the Company’s flow-loop facility. The Company has recently leased a conventional tri-plex pump on a short term basis that is better suited for testing.
Particle Drilling Technologies, Inc. is a development-stage oilfield service and technology company commercializing its patented and patent-pending Particle Impact Drilling system. The company’s technology is designed to enhance the rate-of-penetration function in the drilling process, particularly in hard-rock environments. It is headquartered in Houston, Texas. For more information, visit: http://www.particledrilling.com.