TRACS Assets secures first ‘substantial six-figure’ USA contract win

Aberdeen-based TRACS Assets Ltd (TAL) has secured a substantial six figure, 2 year contract with Houston, Texas based BICO Drilling Tools Inc. aimed at increasing operational efficiency through automating all equipment management processes.

BICO Drilling Tools is a recognised innovative leader in positive displacement drilling motor technology, through-tubing and open-hole applications. It has an extensive operational footprint, servicing clients out of 7 sites, from the Permian Basin and Rocky Mountains to the United Arab Emirates, with 40,000 sq ft of workshop space in its Houston headquarters alone. TRACS will provide an end-to-end solution, incorporating core back office processing, mobile Apps tailored specifically for BICO fieldworkers and Key Performance Indicator management reporting.

Utilising the latest technology to power operations, reduce costs and increase efficiency, the TRACS Team will be working closely with BICO Drilling Tools to roll out the TRACS back office system and fieldworker Apps in early 2018.

Derek Austin, Director of TRACS Assets Ltd says “last year we decided to focus on offering our leading edge equipment management solution to the North American market and we’re delighted to have secured our first work with BICO. Given the increased drilling activity in the Shale basins across North America we’re very optimistic about our future in this market”.

“We first met TAL at the start of this year and, after investing a lot of time reviewing their solution, believe they’re a very good fit for our business. Derek and his team have built TRACS from the ground up specifically for the oil and gas market and it offers just the sort of functionality we need.

We’ve been very impressed with the professional approach they’ve taken to understand our business, and, specific requirements and look forward to benefiting from the operational efficiencies and cost savings TRACS will bring” VP of Operations at BICO.