Oil Country Tubular Ltd - Stock Valuation and Financial Performance

Oil Country Tubular Limited (OCTL), incorporated in the year 1985, is one of the leading companies in the world processing a range of oil country tubular goods required for the oil drilling and exploration industry.

OCTL is located near Hyderabad city and has an unique facility in the world. OCTL has earned worldwide recognition for the quality of its products and services. Innovation and technical excellence are the driving spirit behind OCTL and the overriding focus at OCTL is on the quality of its products and services.

At OCTL, the complete processing activity is concentrated in a single unique integrated plant located at Narketpally and with corporate headquarters at Hyderabad. The facilities include Upsetting, Heat Treatment, Non-Destructive Testing, Metallurgical Laboratory, Gaging and Calibration Laboratory, Tool Joint and Coupling Threading, Casing and Tubing Threading, Friction Welding of Drill Pipe, Hydrostatic Testing and Internal Plastic Coating of Tubulars.

OCTL's wide product range covers Drill Pipe, Heavy Weight Drill Pipe, Drill Collars, Production Tubing, Casing, Tool Joints, Couplings, Pup Joints, Nipples, Subs, and Cross Overs.

OCTL's oil field accessories include Rotary Subs, Lift Plugs and Lift Subs, Cross Overs (Drill Pipe to Drill Collar or Drill Collar to Drill Collar), Stabilizer Sleeves, Welded Blade Stabilizers & Integral Stabilizers and Cast Steel Lifting Bails.

Services include Tool Joint Hardbanding, Make and Break of Tool Joints, Internal Plastic Coating of Drill Pipe and Tubing, Reconditioning of Drill Pipe, Re-threading of Drill Pipe, Tubing and Casing, and Field Inspection of Tubulars.

OCTL can also manufacture and supply in large numbers finished Tool Joints and API Couplings for Tubing and Casing of all grades.

OCTL believes in the principles of continuous improvement which are put into practice at every level in the organization. It is OCTL's continuous endeavor to improve the quality of its products and services to the satisfaction of its customers, by adopting the latest manufacturing practices and technical improvements.

Its integrated facility gives it the 'competitive edge', supported by its personnel who are highly motivated, dedicated and committed to produce quality products consistently.

Product range of the company includes:

OCTL’s wide product range covers Drill Pipe, Heavy Weight Drill Pipe, Drill Collars,Production Tubing, Casing, Tool Joints, Couplings, Pup Joints, Subs, and Cross Overs.

• Drill Pipe- OCTL offers a complete range of drill pipe with tool joints attached from 2 3/8' OD to 5 1/2' OD according to API Specification 7 and guidelines presented in API RP7G and Premium Specifications. Drill Pipes with 95% Remaining Body Wall and Extra Long Tool Joints and Special Grades are also offered upon Customer's request. Plain End Pipes and Tool Joint Forgings are ordered to specific metallurgical chemistries and are matched for physical properties, welding compatibility, weld strength and product integrity.
• OCTL DS Connection- OCTL DS (Double Shoulder) High Torque Connection substantially increases drilling safety and performance by providing higher torque capacity than standard API connections. The superior torsional strength makes OCTL DS connection ideal for use in aggressive drilling programs.
• Heavy Weight Drill Pipe- OCTL Heavy Weight Drill Pipe consists of two extra long tool joints and one central heavy wall tube. The tool joints are friction welded to the central heavy wall tube. The tool joints are manufactured from AISI 4145 H modified material, fully heat treated to 285 _ 341 Brinell hardness and 40 ft-lbs. minimum Charpy V-notch Impact strength. All other physical properties conform to API Specification 7. The central heavy wall tube is manufactured from AISI 1340 steel or equivalent.
• Drill Collars- OCTL Drill Collars (Slick and Spiral) are manufactured from AISI 4145 H Chromium Molybdenum Alloy Steel and are fully heat treated to a Brinell Hardness range of 285-341 BHN and have a minimum Charpy V-notch Impact strength of 40 ft-lbs. at 70° F and a minimum elongation of 13%. The mechanical properties meet or exceed API Specification 7 requirements. The physical properties are guaranteed one inch below the surface at ambient room temperature.
• Tubing- OCTL offers the complete range of API Tubing including Integral and Threaded and Coupled, from 2 3/8' OD to 4 ½' OD according to API Specification 5CT and also Premium Connections.
• Casing- OCTL offers the complete range of API Casing including Extreme Line and Threaded and Coupled, from 4 ½' OD to 13 3/8' OD according to API Specification 5CT and also Premium Connections.
• Accessories- Lift Plugs, Lift Subs, Lifting Bails, Pup Joints, Rotary Subs, Sleeve Stabilizers, Tool Joints, Welded Blade Stabilizers, Couplings.
• Services include Tool Joint Hardfacing (SmoothX®/ Super SmoothX®/ CASING PLUS®/ ARMACOR MTM/ or ARNCO 200XTTM), Make and Break of Tool Joints, Internal Plastic Coating of Drill Pipe and Tubing, Reconditioning of Drill Pipe, Re-threading of Drill Pipe, Tubing and Casing and Field Inspection.
• Reconditioning of Drill Pipe- it involves full pipe body inspection as per the guidelines of API RP7G, inspection of Tool Joints and inspection of the critical area covering the weld zone and the internal fade out area from the Upset to the pipe body.
• Rethreading of Drill Pipe involves machining of new connection on the damaged tool joint pin and box. Rethreading of Casing and Tubing involves inspection of the pin threads and the couplings for thread damages. The defective pins are cut off and new pin connections are machined and the damaged couplings are replaced with new couplings. The pipe is hydrostatically tested as per the API Specifications.
• Field Inspection of Oil Country Tubular Goods as per the API Specifications and Customer requirements is part of OCTL activities.
• Make and Break of Tool Joints- Break the joints in by making up three times to their recommended make-up torque. This option ensures proper initial make-up of tool joints which affects the life of the tool joint connections. Saves rig time.
• Internal Plastic Coating of Drill Pipe improves the performance and life of the drill pipe.
• Tool Joint Hardfacing- SmoothX/Super SmoothX/CASING PLUS/ARMACOR MTM/ or ARNCO 200XTTM/ TCS 8000â„¢/ TCS Titaniumâ„¢

Achievements/ Recognition

• Oil Country Tubular Limited has been assessed and certified by the American Petroleum Institute Quality Registrar (APIQR) as being in compliance witt ISO/TS 29001 Quality System.
• OCTL is licensed by American Petroleum Institute (API) as-Processor of Casing and Tubing: plain end, threaded and coupled, and threader as per API Specification 5CT -Processor of Drill Pipe as per API Specification 5D -Manufacturer of Rotary Drill Stem Elements as per API Specification 7

The products are manufactured to the relevant American Petroleum Institute (API) Specifications and carry API monogram:

• API Specification 5D, certificate number 5D-0035
• API Specification 5CT, certificate number 5CT-0243
• API Specification 7, certificate number 7-0082
• API Specification 7-1, certificate number 7-1-0082