ToughMet® Sucker Rod Couplings Named Finalist for Two Awards: 2016 World Oil and Platts Global Energy Awards

ToughMet® Sucker Rod Couplings have been named a finalist for two 2016
industry awards: for the 2016 World Oil Awards Best Production
Technology category and the Platts Global Energy Award Commercial
Application of the Year category. Materion
Corporation (NYSE: MTRN), and Hess Corporation (NYSE: HES) partnered to
develop and test the use of Materion’s advanced, high performance
ToughMet copper-nickel-tin alloy for sucker rod couplings. Hess tested
the couplings in North Dakota where they improved oilfield production
and significantly reduced the costs of well operations when used in
place of couplings made of conventional steel materials. The couplings
were made available commercially in late 2015.

In oilfields, sucker rod couplings join individual 25-foot sucker rods
into long strings that connect the pump jack on the ground and the pump
in the well. In areas where wells are curved, couplings rub against the
inside of the tubing, causing damage and well failure. Costs to repair
wells can run into the tens of thousands of dollars per well per year.

Hess field tested the patent-pending ToughMet couplings on the worst
wear sections of tapered rod strings in ten of its Bakken wells for more
than two years and found practically no measured wear. The
longest-running wells are now in operation for as much as five times
their previous run times and the couplings have increased well
production by as much as 30 percent.

“Such an innovation couldn’t have come at a better time for the
industry, as crude price volatility has driven a great need for
operators to increase efficiency, reduce waste and cut costs,” said Seth
Silverman, Hess Senior Engineering Advisor, who led the project for
Hess. “Hess uses the Lean Manufacturing process to reduce operating
costs in its Bakken operations by focusing on the maintenance,
reliability and integrity of its wells. Choosing ToughMet for sucker rod
couplings was a simple solution to a problem that has been plaguing
operators for many years in North Dakota.”

“Partnering with Hess allowed us to solve a common oilfield problem.
We’re extremely pleased that the couplings have been recognized as
finalists for these two prestigious industry awards,” said William
Nielsen, Materion Performance Alloys Vice President of Bulk Products.
“At Materion, we welcome the opportunity to work with our customers to
innovate new technologies.”

About Materion:

Materion, founded in 1931, is one of the world’s premier advanced
materials solutions providers committed to developing, manufacturing and
marketing highly engineered advanced materials for global customers
across a wide range of markets. Materion serves customers in more than
50 countries with operating, service centers and major office locations
throughout North America, Europe and Asia. For more information, visit: www.materion.com.

About Hess:

Hess Corporation is a leading global independent energy company engaged
in the exploration and production of crude oil and natural gas. More
information on Hess Corporation is available at www.hess.com.

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