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. https://smallcaps.com.au/scidev-achieves-first-sales-chemical-technology-us-oil-gas-market/
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SCIDEV ACHIEVES FIRST SALES OF CHEMICAL TECHNOLOGY IN US OIL AND GAS MARKET
Chemical technology developer SciDev (ASX: SDV) is gaining traction in the US market, announcing its first major order for friction reducers in the oil and gas sector. The company has developed and commercialised several solids-liquid separation technologies for the mining, dairy and food product industries, as well as for the treatment of industrial wastewater and sewerage. Using its proprietary OptiFlox technology, the company’s US subsidiary SciDev (US) LLC developed chemistry that significantly reduces friction for both proppant and oil hydraulic transport. In an announcement today, SciDev said its targeted push into the US market is starting to pay off with orders placed for delivery in August and September, to generate a total revenue of more than $1 million. The friction reducers are expected to be destined for the Permian Basin, which covers parts of Texas and New Mexico and is considered one of the world’s most productive oil basins. According to the company, order volumes are “expected to continue to grow, with further commercial and field evaluations to be undertaken in order to determine the potential financial returns to SciDev from this very large market”. READ MORE