Leading Polycrystalline Diamond Company Secures Rights to Thermally Stable PDC Technology—Providing Oil and Gas Drilling Customers with Products That Are More Abrasion-Resistant, Durable, Stable and Cost Effective

OREM, Utah (Business Wire EON/PRWEB ) May 29, 2008 -- US Synthetic, the leading provider of polycrystalline diamond cutters (PDCs) for oil and gas exploration, and Mitsubishi Materials Corporation, a leading metal and material products company, today announced an exclusive license agreement that grants US Synthetic rights to thermally stable polycrystalline diamond technology that delivers superior performance.

A thermally stable, diamond-based product that delivers superior performance represents a significant breakthrough for the oil and gas industry

We've been able to create a material that is 100% thermally stable and can significantly reduce micro chipping and thermo-mechanical degradation.

Oil and gas drillers all over the world face a significant challenge when they have to drill through tough, hard rock formations

The problem is that the vast majority of drilling tools available aren't equipped to handle the extreme conditions that occur when drilling tools encounter these difficult hard rock formations. Developing a thermally stable technology that can still handle the extreme conditions that result from downhole drilling is a significant discovery.

Through this agreement, US Synthetic can utilize and develop thermally stable polycrystalline diamond technology that provides oil and gas customers with next generation cutters that are more abrasion-resistant, durable, stable and cost effective. This new technology delivers superior performance to customers in the oil patch—allowing drillers to drill faster than ever before to achieve better Rates of Penetration (ROP).

“A thermally stable, diamond-based product that delivers superior performance represents a significant breakthrough for the oil and gas industry,” said Mr. Hideaki Yoshida, General Manager, Central Research Institute of Mitsubishi Materials Corporation. “We’ve been able to create a material that is 100% thermally stable and can significantly reduce micro chipping and thermo-mechanical degradation.”

The license agreement with Mitsubishi Materials will allow US Synthetic to apply thermally stable polycrystalline diamond technology to a number of diamond-based applications—significantly adding production life to any diamond-based product. US Synthetic plans to incorporate the technology into a broad range of applications, including oil and gas PDCs, industrial bearings, mining, wire drawing dies, oil and gas wear parts, and heat sink devices used in silicon-based electronic devices. US Synthetic customers will now have access to innovative technology that is thermally stable, tough, and extremely wear resistant.

“Oil and gas drillers all over the world face a significant challenge when they have to drill through tough, hard rock formations,” said Dr. Ken Bertagnolli, vice president of research and development at US Synthetic Corporation. “The problem is that the vast majority of drilling tools available aren’t equipped to handle the extreme conditions that occur when drilling tools encounter these difficult hard rock formations. Developing a thermally stable technology that can still handle the extreme conditions that result from downhole drilling is a significant discovery.”

The thermally stable polycrystalline diamond technology was prepared under high-pressure, high-temperature (HPHT) liquid-phase sintering using proprietary US Synthetic technology. Parties interested in evaluating thermally stable polycrystalline diamond technology are encouraged to contact Dr. Ken Bertagnolli at US Synthetic at 801-235-9001.

About US Synthetic

US Synthetic (www.ussynthetic.com) is the leading provider of polycrystalline diamond cutters (PDCs) for oil and gas exploration. Thanks to constant innovation, proven quality, and superior customer service, more of the world’s energy suppliers rely on US Synthetic than any other PDC manufacturer. US Synthetic has spent more than a decade perfecting its products to drill faster and last longer—especially in tough conditions that test the limits of the most durable drilling equipment.

About Mitsubishi Materials Corporation

Mitsubishi Materials provides the seeds for developing highly dependable core technologies, communications technology and nanotechnology for use in numerous business areas, such as advanced materials, information, communications, environment and energy, where quick responses to the changing needs of customers are critical. Also, given the capabilities of the company's R&D network, which are based on a rich catalog of basic technologies and nano-level high-end technology measurement tools, Mitsubishi Materials can rapidly recommend new products that can handle the demands imposed by next- generation technologies. Mitsubishi Materials' mission is to use its knowledge of production and systems to help customers imagine a much larger array of comfortable technology solutions.

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