Varel International recently announced the appointment of John Capasso as the company’s new chief financial officer (CFO). Capasso will be responsible for all elements of global finance and information technology for Varel, and for human resources in North America.

Capasso joins Varel from Formed Fiber Technologies, where for the last three years he served as CFO. With more than 20 years of operating experience, Capasso has extensive experience in mergers and acquisitions, lean manufacturing initiatives and IT systems implementations. Prior to joining Formed Fiber, Capasso spent 11 years with SPX Corporation in Chicago and Maine in various global financial and operating leadership roles and nine years in financial leadership positions with Cubic Corporation in New York.

"John is an excellent addition to our executive team," said Jim Nixon, president and CEO of Varel. "His combination of public and private equity experience in large and midsize companies fits in with Varel’s strategic objective of growth, coupled with financial discipline and internal controls."

Capasso, a CPA, earned his undergraduate degree in business, majoring in accounting, at Boston College and later attended the MBA program at New York University’s Stern School of Business. John started his career with PricewaterhouseCoopers in Stamford, Conn.

He will office at Varel’s headquarters in Carrollton, Texas.

Downhole Products Participates in
2009 Electric Submersible Pump Workshop

Downhole Products (DHP) recently showcased its GRIPPY product line at the 2009 Electrical Submersible Pump Workshop held at The Woodlands Waterway Marriott in The Woodlands, Texas. The annual workshop brings together users and manufacturers of electric submersible pumps and associated products in a knowledge sharing environment. It is one of the largest SPE technical meetings.

Marcus Gregson-Brown, country manager DHP USA, said the workshop provided DHP with valuable opportunities to interact with customers.

"The workshop provided us a forum in which to talk with our customers about the solutions DHP can provide," said Gregson-Brown. "We received a great deal of customer response from our exhibit and were able to highlight how the GRIPPY line can assist in their operations."

DHP’s GRIPPY Protector is an engineered solution for downhole cables and control lines. The protector secures electric submersible pump cables and control lines in and out of wellbores quickly, safely and efficiently. GRIPPY assemblies are available in sizes ranging from 2-3/8" to 7."

"As a solutions-based provider, this workshop enabled DHP to engage our clients and delve into their challenges," said Product Manager Gina Taylor. "We gained invaluable insight and will continue to work with our clients to bring optimal solutions to the industry."

For more information on DHP and its product offerings, contact Product Manager Gina Taylor at gina.taylor@downholeusa.com.

Pictured from left to right: Marcus Gregson-Brown – Country Manager DHP USA, Nancy Arango – Sonoma Trade, Gina Taylor – Executive Sales / Product Manager DHP USA, Brandy Ray – Executive Assistant DHP USA, Juan Montes – Gulf Coast Oilfield Products, Sergio Bracho – Business Development Manager Sonoma Trade

The new Diamond Edge series is a patent pending PDC drill bit designed to run at high penetration rates even in applications that call for higher blade and cutter counts. Its unique cutting structure layout adds another dimension to bit stability and smooth running by combining the penetration rate potential of traditional "single set" cutter layouts with the life extending features of a "plural set" cutter layout. The result is a bit that runs up to 20 percent faster than conventional PDC bits with minimum bit wear.

Click here to view the flier with run information (115kb).

New Bit Designs Optimize Performance (91kb)
American Oil & Gas Reporter, April 2009
Article by Danny Boyd

Innovative, Application-specific Drill Bit Designs
Prove Value, Help Operators Set Drilling Records (2mb)
Drilling Contractor, March/April 2009
Article by Jerry Greenburg

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