OREANDA-NEWS. December 15, 2014. Recon Technology has developed, and expects to shortly commercialise, in China its own fracking system - Recon believes its new Frac BHD system is a potential substitute for the expensive foreign systems widely used in China at present.

"Our new fracking system reflects our years of onsite experience, and incorporates innovations such as check valves to facilitate tool string installation and avoid midway setting accidents," said Yin Shenping, CEO of Recon.

“We believe it will match the performance and reliability of the imported systems currently in use and can be competitively priced."

It is an improved utility for oil and gas fracking activities that stimulates oil and gas production from underground rock formations.

Recon believes its new Frac BHD system is a potential substitute for the expensive foreign systems widely used in China at present.

It is comprised of a sleeve, float shoes, setting balls, hanger, hydraulic anchor, tie-back seal assembly and an integrated open-hole packer which is used to isolate sections of horizontal wells when collecting oil and gas.

This new system provides a solution for multi-stage stimulation in the open-hole horizontal well fracturing process which maximizes reservoir productivity and saves well completion time.

Scheduled for market entrance in March, 2015, Yin said he believed the product would generate USD 1.5m to USD 2m of revenue in calendar 2015.

"Fracking in China has been held back largely due to its extremely high cost," Yin added. "And our new open-hole packer is another step toward addressing this problem."

He continued, "It is also another example of how Recon is enhancing production and reducing exploration costs across a wide spectrum of oil and gas production activities. With our proven technical and engineering skills we believe Recon will maintain leadership in the industry, as well as participate in the growth we see ahead in fracking."