Profile: FMC Technologies Inc (FTI.N)
7 Mar 2014
FMC Technologies, Inc. (FMC Technologies), incorporated in November 2000, is a provider of technology solutions for the energy industry. The Company designs, manufactures and services systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems for the energy industry. The Company’s segments are Subsea Technologies, Surface Technologies and Energy Infrastructure. Subsea Technologies designs and manufactures products and systems and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas. Surface Technologies designs and manufactures products and systems and provides services used by oil and gas companies involved in land and offshore exploration and production of crude oil and natural gas. The Energy Infrastructure segment offers products, such as Measurement Solutions, Loading Systems, Material Handling Solutions, Blending and Transfer Systems, Separation Systems and Direct Drive Systems. In April 2012, it acquired the remaining 55% of the outstanding shares of Schilling Robotics LLC. In April 2012, the Company acquired Control Systems International, Inc., a supplier of control and automation system solutions for the oil and gas industry and other markets. In October 2012, it acquired Pure Energy Services Ltd. In January 2013, the Company purchased a 173-acre parcel of land in Houston, Texas.
The Company’s production systems control the flow of oil and gas from producing wells. It specializes in offshore production systems and has manufacturing facilities near the offshore oil and gas producing basins. FMC Technologies systems are used in the offshore production of crude oil and natural gas. Subsea systems are placed on the seafloor and are used to control the flow of crude oil and natural gas from the reservoir to a host processing facility, such as a floating production facility, a fixed platform or an onshore facility. Its subsea equipment is controlled by the host processing facility. Some of its systems are designed to withstand exposure to the extreme hydrostatic pressure that deepwater environments present, as well as internal pressures of up to 15,000 pounds per square inch and temperatures in excess of 350 degrees Fahrenheit.
The development of its integrated subsea systems includes initial engineering design studies, subsea trees, control systems, manifolds, seabed template systems, flowline connection and tie-in systems, pumping and boosting capabilities and subsea wellheads. In order to provide these products, systems and services, FMC Technologies utilizes engineering, project management, global procurement, manufacturing, assembly and testing capabilities. It also provides installation and workover tools, service technicians for installation assistance and field support for commissioning, intervention and maintenance of its subsea systems throughout the life of the oilfield. This scope of activity also includes providing tools, such as its light well intervention system for certain well workover and intervention tasks. Subsea systems represented approximately 64% of FMC Technologies consolidated revenue during the year ended December 31, 2011.
The Company designs and manufactures multiphase meters with applications that include production and surface well testing, reservoir monitoring, remote operation, fiscal allocation, process monitoring and control, and turbine and compressor monitoring. The Company, with its integrated systems for subsea production, has pursued alliances with oil and gas companies that are engaged in the subsea development of crude oil and natural gas. Some of the customers FMC Technologies has entered into alliances with include Statoil, Shell, BP and Anadarko Petroleum Corporation. In 2011, FMC Technologies generated approximately 12% and 11% of its consolidated revenue from Statoil and Total S.A., respectively.
The Company designs, manufactures and supplies high pressure valves, pumps and fittings used in stimulation activities for oilfield service companies. The Company provides a range of surface wellheads and production systems for both standard service and critical service applications. Surface production systems, or trees, are used to control and regulate the flow of oil and gas from the well. Its surface products and systems are used worldwide on both land and offshore platforms and can be used in climates, including arctic cold or desert high temperatures. The Company supports its customers through engineering, manufacturing, field installation support and aftermarket services. In addition, its integrated shale services include hydraulic fracturing manifolds and trees and flow back equipment for well completion. Surface wellhead represented approximately 14% of the Company’s consolidated revenue in 2011.
The Company designs and manufactures flowline products, under the Weco/Chiksan names, and pumps and valves used in well completion and stimulation activities by oilfield service companies, such as Schlumberger Limited, Baker Hughes Incorporated, Halliburton Company and Weatherford International Ltd. Its flowline products are used in equipment that pumps corrosive and/or erosive fluid into a well during the well construction, hydraulic fracturing or other stimulation processes. The Company’s reciprocating pump product line includes Duplex, Triplex and Quintuplex pumps utilized in a variety of applications. Fluid control represented approximately 12% of its consolidated revenue in 2011. The Company also maintains rental equipment related to pressure pumping operations.
The Company’s measurement systems provide solutions for use in custody transfer of crude oil, natural gas and refined products. It provides land- and marine-based fluid loading and transfer systems primarily to the oil and gas industry. Its systems are capable of loading and offloading marine vessels transporting a range of fluids, including crude oil, liquefied natural gas (LNG) and refined products. The Company has also developed advanced loading systems that can be mounted on a vessel or structure to facilitate ship-to-ship or tandem loading and offloading operations in open seas or exposed locations. FMC Technologies provides material handling solutions, including bulk conveying systems to the power generation industry. It provides solutions for conveying, feeding, screening and orienting bulk product for customers in diverse industries.
FMC Technologies provides engineering, design and construction management services in connection with the application of blending technology, process controls and automation for manufacturers in the lubricant, petroleum, additive, fuel and chemical industries. The Company designs and manufactures systems that separate production flows from wells into oil, gas, sand and water. Our separation technology improves upon conventional separation technologies by moving the flow in a spiral, spinning motion. These systems are capable of operating onshore or offshore. It develops and manufactures permanent magnet motors and bearings. It provides machines for a variety of energy-related applications, including integral motors and related system components for compression and pumping for natural gas pipelines, offshore platform and subsea processing markets.
The Company competes with Cameron International Corporation, GE Oil & Gas, Aker Solutions, Weir Oil & Gas and Gardner Denver, Inc.
FMC Technologies Inc
5875 N SAM HOUSTON PARKWAY W
HOUSTON TX 77086