GHT Announces Record Number of Jumbotron Orders
HOUSTON, Jan. 5, 2018 /PRNewswire/ -- Houston Global Heat Transfer LLC ("GHT" or the "Company") is pleased to announce it has received a record number of new Jumbotron orders during Q4 2017 totaling more than 1.1 million of aggregate HHP equivalent. GHT's flagship product, the Jumbotron, is a patent-pending, high-performance radiator engineered specifically for the demands of today's pressure pumping equipment.
GHT commercialized the Jumbotron's cube radiator design in 2010 and, with initial sales of the current 5(th) generation Jumbotron in late 2016, has established a large installed base of frac radiators. The Company engineered the Jumbotron to require less frequent maintenance and to minimize downtime, resulting in significant cost savings to the operator by reducing fouling and the associated overheating costs. Other benefits of the Jumbotron include significantly reduced noise pollution and smaller footprint.
"2017 was a record year for GHT as our pressure pumping customers realized that their conventional horizontal radiators were an unnecessary bottleneck for operations and many decided to standardize on the Jumbotron," said Randy Vanberg, President of GHT. "With oil prices at multi-year highs and horsepower availability continuing to tighten, our customers are increasingly focused on maximizing uptime and minimizing maintenance costs."
"The vast majority of available horsepower in the market was built prior to 2013. Given the typical short-term life cycle of pressure pumping equipment, the industry's changing technological requirements and downturn related cannibalization and deferred maintenance, most of this equipment is not well suited to return to work or maximize frac fleet efficiencies in the field. Consequently, our customers are beginning substantial upgrade programs to replace their conventional horizontal radiators with our patent-pending 5(th) generation Jumbotron cube radiators," said Derek Hjorth, Senior Vice President of GHT. "We expect significant growth going forward, not only from the nascent upgrade cycle but also from newbuilds and aftermarket parts, service and repair. As a result, we are currently working to expand both our manufacturing and service capabilities to better service our customers."
About Houston Global Heat Transfer LLC
Headquartered in Houston, TX with an additional location in Edmonton, AB, GHT was founded in 1978 and is a leader in the design, assembly, service and repair of radiators, oil coolers, gas coolers and industrial cooling systems used in the pressure pumping, drilling and vapor recovery segments of the oil & gas industry. GHT's flagship product, the Jumbotron, is a patent-pending, high-performance radiator engineered specifically for the demands of today's pressure pumping equipment.
For more information about the Company, please visit www.globalheattransfer.com.
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SOURCE Houston Global Heat Transfer LLC
