Economic conditions in the oil and gas industry fluctuate, but Veristic Technologies has a way of dealing with that. “We have made ourselves a diverse company with an array of products and services to offer our client,” Senior Vice President Charles Vora explains. “For example, if there is a decline in new rig sales, we can turn our focus to engineering services, such as recertifications and inspections, and upgrades.
“We are an engineering group at heart,” he explains. “The oil and gas industry is our focus, but if the industry goes through a down time, we can use our engineering expertise elsewhere.”
Veristic Technologies provides design and fabrication of oil and gas drilling rig equipment and structures. The company specializes in designing and manufacturing drilling rig masts, substructures and derricks and accessories.
Veristic’s flagship products are the Rocket Rig and Rig Walkers. The Rocket Rig is a compact drilling structure that uses a hydraulic dogtail raising system to facilitate rig moves. The Rig Walker enables the Rocket Rig to drill on multiple well pads and drill extended reach wells by reducing the cost and time it takes to skid a rig.
“We design our products for easy handling, and we try to reduce the number of loads necessary to get them up and running,” Vora says.
For example, the drilling rig mast was designed with the guide track built into the mast stem. Once the land rig is assembled, the drilling rig mast and drill floor are raised simultaneously.
To help it stay ahead, Veristic uses the latest software for its products. “It allows us to work faster and stretch our creativity with new designs and problem-solving,” Vora observes.
A Movable Rig
The Rig Walker is a hydraulic machine that lifts and moves a fully-assembled rig to nearby wells. With a 2.4-million-pound lift capacity, the Rig Walker allows the user not only to skid the rig in eight directions, but also to do so with a full rack of setback. The drilling rig skidding system moves a rig 40 feet in 1 hour.
“Rig Walkers allow operators to drill multiple wells from one pad,” Vora explains. “It reduces the number of personnel required to move the rig. Older methods of moving a rig on a pad presented more of a danger to the workers, so we designed our Rig Walker to help reduce the chance of injury.”
Safety is Paramount
A big part of the company culture at Veristic Technologies is safety. “That is the key factor when we think of any new design or changes to our current one,” Vora stresses. “We are also trying to make products that continue to speed up the drilling process – of course, without jeopardizing safety.”
While Veristic has seen much growth over the years, the company knows that it must keep evolving to stay ahead in such a competitive market.
The company relies on building strong relationships with customers. “Anytime a customer calls, we are always accessible,” Vora insists. “Our smaller size makes it easier for us to react to their needs. You can talk to us without going through a chain of command.”
People can expect to hear even more about the company in the near future. “We are taking out ads, revamping our website, starting a Facebook page and participating in more industry trade shows,” he says. “Our current goal is that every drilling contractor in the U.S. has at least heard the name ‘Veristic.’”