[November 18, 2014]

Magnum Oil Tools Develops World's First Dissolvable Frac Plug

Magnum Oil Tools International has announced the release of the industry's first dissolvable frac plug, the Magnum Vanishing Plug™ (MVP™). The MVP™ dissolves with the presence of temperature at a predictable rate, allowing the opportunity to substantially reduce the risk and costs associated with well intervention.

Currently, the preferred method of completing unconventional horizontal wells is a plug-and-perf process whereby frac plugs are installed in a wellbore to isolate each frac stage. Once all stages are completed, a well intervention process is performed to remove the plugs from the wellbore. The MVP™ was developed to eliminate these interventions. "This ground-breaking technology will make well completions safer, more efficient and more economical by reducing the risks and delays that are associated with well interventions," said Garrett Frazier, Director of Marketing and Sales at Magnum.

Magnum has made this technology available to only a select group of operators in a variety of shale plays across the United States.

Many early-adopter operating companies have conducted trials of the MVP™ by starting with a "toe package" in which 5 to 10 MVP™ plugs were set in the end or "toe" of a horizontal wellbore. Several other operators have implemented the MVP™ to isolate all stages in their horizontal wellbore with strong results.

Magnum Oil Tools developed the MVP™ using a proprietary material made available through a strategic partnership with a leading global manufacturing company whose patented, innovative manufacturing processes are helping Magnum redefine what's possible downhole. The MVP™ requires no corrosive chemicals to dissolve and is 100 percent environmentally safe. It also extends the practical range of longer laterals in horizontal well completions.

"We pride ourselves on working closely with operators to develop tools that address specific well completion challenges," said Frazier. "This was an innovation a number of people were really pushing for. We have been diligently working on this technology for some time now and it feels great to see it working as designed. The demand has been staggering."

ABOUT MAGNUM OIL TOOLS INTERNATIONAL

Founded in 1985, Magnum is one of the world's leading independent providers of downhole completion products engineered to meet specific industry needs. Magnum takes pride in working closely with customers to design products that help deliver superior results in the field worldwide. The company's popular products include composite frac plugs (such as the Magnum Snub Nose™ and Long Range™ plugs), the MagnumDisk™, Fastball™ (a dissolvable frac ball) Composite Cement Retainers, TCP Products and the A-1 Hydraulic Setting Tool. These products are designed with purpose to help operators increase efficiency and performance downhole-in shale plays all around the world. Visit the company's website at www.magnumoiltools.com. Connect with Magnum on Facebook, Twitter and YouTube.

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