|Exchange:||NASDAQ national market|
|Stock:||Recon Technology Ltd.|
|Industry:||Oil & Gas Equipment & Services|
|Recon Technology, Ltd. was incorporated on August 21, 2007 under the laws of the Cayman Islands. The Company provides hardware, software, and on-site services to companies in the petroleum mining and extraction industry in China. The Company provides services designed to automate and improve the extraction of petroleum in China. The Company is engaged on the upstream sectors of the oil and gas industry. The oilfield engineering and technical service industry is generally divided into five sections: exploration, drilling and completion, testing and logging, production and oilfield construction. The Company is engaged in providing equipment, tools and other hardware related to oilfield production and management, including simple installations in connection with some projects; service to improve production and efficiency of exploited oil wells, and developing and selling its own specialized industrial automation control and information solutions. The products and services provided by the Company include: High-Efficiency Heating Furnaces - High-Efficiency Heating Furnaces are designed to remove the impurities and to prevent solidification blockage in transport pipes carrying crude petroleum. Crude petroleum contains certain impurities including water and natural gas, are removed before the petroleum becomes sold. Multi-Purpose Fissure Shaper - Multipurpose fissure shapers improve the extractors’ ability to test for and extract petroleum which requires perforation into the earth before any petroleum extractor can test for the presence of oil. Horizontal Multistage Fracturing related Service - Baker Hughes FracPoint™ system provides service to oilfield companies. The Baker Hughes FracPoint™ system provides a completion method using packers to isolate sections of the wellbore (stages) and frac sleeves to direct the frac treatment to the desired stage. Supervisory Control and Data Acquisition System (SCADA) - SCADA is an industrial computerized process control system for monitoring, managing and controlling petroleum extraction. SCADA integrates underground and aboveground activities of the petroleum extraction industry. This system helps to manage the oil extraction process in real-time to reduce the costs associated with extraction. It operates business by cooperating with oil companies and their subsidiaries, petroleum administration bureau and local service companies. The Company’s customers include Sinopec and CNPC. The company’s domestic competitors include Beijing Echo Technologies Development Co., Ltd.; Beijing Golden-Time Petroleum Measurement Technology Co., Ltd.; Anton Oilfield Services Group.|
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