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08/20/03 Structural Composite Retrofit System Awarded Patent

20 August 2003

News Release – Patent Award

MADCON Corporation, Slidell, Louisiana has received official notice that their Structural Composite Retrofit System has been awarded US Patent Number 6,536,991.

Improved recovery and directional drilling techniques created the need to extend the original design life of many offshore facilities. Utilizing advanced composite materials, the system provides full structural restoration of damaged or corroded tubular members such as drive pipe casing, conductors, jacket legs and bracing, concrete or steel piling, and risers/pipelines. The system can also be used to upgrade the original design capacity of platform members.

The Structural Composite Retrofit System can restore and protect a severely corroded member without costly shut-ins due to hot work. MADCON employs highly specialized personnel, including divers, so the system can be installed both above and below water. Several major offshore owner operators recently installed the Structural Composite Retrofit System from the (-15) to (+60) elevation to rebuild extremely corroded drive pipe casing.

The company also has a patent pending on its method to repair damaged or collapsed casing in gas and oil wells. This repair method sets a new precedent in cost reduction by providing a way to restore structural integrity to conductor and surface casing without using a drilling rig. The traditional approach has mandated mobilizing an expensive drilling rig to replace failed casing. MADCON found most well casing perforations and failures occur within 10 feet of the wellhead due to high oxygen content of water trapped on top of, or even within, poor cement grout. Experience with halting this destructive corrosion process led to developing their casing repair method.

MADCON recently repaired over a dozen offshore wells for two major production companies at a cost of $40 –100,000 per well. This compares to $1,500,000 per well if using a drilling rig. MADCON's casing repair method saved these companies in excess of 16 million in costs, plus returned the wells to producing revenue much faster.

For detailed information including electronic photos, please contact George Hofmeister at 337-984-6337 or by email at: ghofmeister@madconcorp.com

Contents ©2011 MADCON Corp.