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Profile: Recon Technology Ltd (RCON.OQ)

RCON.OQ on NASDAQ Stock Exchange Capital Market

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23 Mar 2017
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Recon Technology, Ltd., incorporated on August 21, 2007, is a provider of hardware, software and on-site services to companies in the petroleum mining and extraction industry in China, the People's Republic of China (PRC). The Company provides services designed to automate the extraction of petroleum. The Company controls by contract the People's Republic of China companies of Beijing BHD Petroleum Technology Co., Ltd. (BHD) and Nanjing Recon Technology Co., Ltd. (Nanjing Recon) (collectively Domestic Companies). The Company offers strategic management, financial control and human resources allocation for the Domestic Companies. Through its contractual relationships with the Domestic Companies, the Company provides equipment, tools and other hardware related to oilfield production and management, and develops and sells its specialized industrial automation control and information solutions. The Company provides products and services to oil and gas field companies, which focus on the development and production of oil and natural gas. Its products and services include Equipment for Oil and Gas Production and Transportation, Oil and Gas Production Improvement Techniques, and Automation System and Service.

Equipment for Oil and Gas Production and Transportation

The Company offers an automated oilfield furnace. The Company serves as an agent for the Unigas Burner, which is designed and manufactured by UNIGAS, a burning equipment production company.

Oil and Gas Production Improvement Techniques

The Company's oil and gas production improvement techniques include packers of fracturing, production packer, sand prevention in oil and water well, water locating and plugging technique, fissure shaper, fracture acidizing and electronic broken-down service. Packers of Fracturing utility model is used concertedly with the security joint, hydraulic anchor and slide bushing of sand spray in the well. The Company's production packer separates different oil layers and protects the oil pipe from sand and permeability. The Company's Sand Prevention in Oil and Water Well technique processes additives that are resistant to elevated temperatures into resin sand, which is transported to the bottom of the well through carrying fluid. The resin sand goes through the borehole, piling up and compacting at the borehole and oil vacancy layer. An artificial borehole wall is formed, functioning as a means of sand prevention. Its Water Locating and Plugging Technique conducts a self-sealing-test during multi-stage usage and is used to separate different production sets.

The Fissure Shaper is the Company's product, which is used along with a perforating gun to raise perforation depth by between 46% and 80%, shape stratum fissures. Its Fracture Acidizing technique injects acid to layers under pressure, which can form or expand fissures. This technique is primarily adapted to oil and gas wells that are blocked up relatively deeply, or the ones in the low permeable zones. Its Electronic Broken-down Service resolves block-up and freezing problems by generating heat from the electric resistivity of the drive pipe and utilizing a loop tank composed of an oil pipe and a drive pipe.

Automation System and Service

The Company's Pumping Unit Controller functions as a monitor to the pumping unit and also collects data for load, pressure, voltage, and startup and shutdown control. Its remote terminal unit (RTU) is used to monitor natural gas wells and collects gas well pressure data. Its Wireless Dynamometer and Wireless Pressure Gauge replace wired technology with cordless displacement sensor technology. Its Electric Multi-Way Valve for Oilfield Metering Station Flow Control is used before the test separator to replace the existing three valve manifolds. It facilitates the electronic control of the connection of the oil lead pipeline with the separator. Its Natural Gas Flow Computer System is used in natural gas stations and gas distribution stations to measure flow.

The Company's Recon Supervisory Control and Data Acquisition System (SCADA) oilfield monitor and data acquisition system is a system that applies to the oil well, measurement station and the union station for supervision and data collection. Its Engineering, Procurement, Construction (EPC) Service of Pipeline SCADA System is a service technique for pipeline monitoring and data acquisition after crude oil transmission. Its EPC Service of Oil and Gas Wells SCADA System is a service technique for monitoring and data acquisition of oil wells and natural gas wells. Its EPC Service of Oilfield Video Surveillance and Control System is a video surveillance technique for controlling the oil and gas wellhead area and the measurement station area. Its Technique Service for Digital Oilfield Transformation includes engineering technique services, such as oil and gas SCADA system, video surveillance and control system, and communication systems.

The Company competes with Beijing Echo Technologies Development Co., Ltd., Beijing Golden-Time Petroleum Measurement Technology Co., Ltd. and Anton Oilfield Services Group.

Company Address

Recon Technology Ltd

Rm 1902,Bldg C,Kng Lng Intntl Mn
No.9 Fulin Road
Chaoyang District
BEIJING   BEJ   100107
P: +8625.52313015
F: +8610.84945792

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