Jiangnan Red Arrow insiders told the relevant media that the diamond composite sheet products in the company's fundraising project can be used for shale gas mining. Currently, the project is in the technical preparation stage. The company will not directly participate in shale gas mining, but may indirectly participate.
Synthetic diamond compact (PCD) drill bits are currently the most suitable for shale gas mining depth and geological conditions. In September 2013, Zhongnan Diamond, the world's largest manufacturer of synthetic diamonds, successfully reorganized Jiangnan Red Arrow to complete the backdoor listing. After the reorganization, Jiangnan Red Arrow plans to raise 1.323 billion yuan of matching funds for the five projects of Central South Diamond to integrate and develop the diamond industry chain.
The above-mentioned person said that the company plans to raise 168 million yuan for the PCD industrialization project. Its PCD products can be used not only for super-hard material tools, but also for mining and oil and gas drilling.
According to estimates, in 2013, the domestic PCD drill bit market for oil and gas reached 3.6 billion yuan, and the global market scale was as high as 65 billion yuan. The PCD project invested by the company is expected to replace the imported PCD which is currently in a monopoly position in oil and gas drilling. The market prospect is good and it is expected to become the company's new profit growth pole.
Synthetic diamond compact (PCD) drill bits are currently the most suitable for shale gas mining depth and geological conditions. In September 2013, Zhongnan Diamond, the world's largest manufacturer of synthetic diamonds, successfully reorganized Jiangnan Red Arrow to complete the backdoor listing. After the reorganization, Jiangnan Red Arrow plans to raise 1.323 billion yuan of matching funds for the five projects of Central South Diamond to integrate and develop the diamond industry chain.
The above-mentioned person said that the company plans to raise 168 million yuan for the PCD industrialization project. Its PCD products can be used not only for super-hard material tools, but also for mining and oil and gas drilling.
According to estimates, in 2013, the domestic PCD drill bit market for oil and gas reached 3.6 billion yuan, and the global market scale was as high as 65 billion yuan. The PCD project invested by the company is expected to replace the imported PCD which is currently in a monopoly position in oil and gas drilling. The market prospect is good and it is expected to become the company's new profit growth pole.
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