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News Breaks
March 11, 2014
07:16 EDTRCONRecon Technology receives new authorizatoin to provide services for Sinopec
Recon Technology announced that its BHD Petroleum Technology division has received a new oil field access Certificate from China's state-owned oil and gas exploration company, Sinopec, authorizing BHD to provide horizontal fracturing equipment and services at Sinopec's Northeast oilfield branch in China's Jilin Province. BHD has thus far provided fracturing equipment utilized at one of Sinopec Northeast oilfield's wells. That well produced revenue of approximately $196,721 for BHD. According to Sinopec's production plan, an additional 21 wells will require fracturing services in 2014, with a budget of approximately $326, 880 per well.
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February 2, 2016
06:36 EDTRCONRecon Technology receives two more orders from PetroChina oilfield companies
Recon Technology announced that Beijing BHD Petroleum Technology, a wholly-owned subsidiary of the company, received two orders for a total of ~$0.3M from PetroChina's oilfield companies. The first order, dated January 12, is to supply two heat exchanger units, a major component of furnaces, to PetroChina's Jilin Oilfield for ~$0.1M, with a scheduled delivery date of no later than March 15. The second order, dated January 21, is to supply two furnaces to PetroChina's Huabei Oilfield for ~$0.2M, with a scheduled delivery date of February 29. Both orders are part of PetroChina's furnace procurement program that BHD bided on and for which BHD has received a Class A Furnace Supplier qualification, as was previously announced by the company on December 14, 2015. These two orders, combined with the ~$0.5M order received from PetroChina's Huabei Oilfield in December 2015, brings the aggregate order value to more than ~$0.8M to date for the company under the Procurement Program.

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