HOUSTON--(BUSINESS WIRE)--BlueFire Equipment Corporation (OTCBB: BLFR) currently has a patent application under review by an examiner at the United States Patent and Trademark Office, for which the company expects to receive a response any day.
In January 2012, BlueFire was issued its first patent for a new rotary drill bit that includes a manifold for outputting fluid flow to a plurality of nozzles to respective cutting elements. The patent is valid until January 2030.
The booming domestic oil and gas industry has amplified the demand for oilfield equipment and BlueFire is responding with this innovative technology. Conventional bits use nozzles that eject drilling fluid into the bottom of the wellbore resulting in a general application and uneven distribution at the point of contact.
The BlueFire design employs strategically aligned nozzles to concentrate high-pressure jet streams directly on the cutting edge, lubricating the interface between the bit cutters and rock formation being drilled. The result is a bit that runs cleaner and cooler with higher rates of penetration (ROP) and longer run times.
William A. Blackwell, Chairman and CEO of BlueFire said, “Directional drillers often spend a great deal of time and money determining the most cost efficient route to reserves. Missing a mark can be the difference between a gusher and a dry hole. Our bits can optimize time spent drilling and result in a shorter path to the target.” He added that the design has the proven potential of substantial time and money savings for drilling operators.
More information about BlueFire Equipment Corporation can be seen at www.bluefireequipment.com.
About BlueFire Equipment Corporation (BLFR)
BlueFire Equipment Corporation designs and manufactures proprietary drilling technologies for use in the exploration and production of oil and gas in the United States. It sells and leases various sizes of polycrystalline diamond cutter (PDC) drill bits to drilling contractors and oil and gas companies. BlueFire Equipment Corporation was founded in 2008 and is headquartered in Houston, Texas. BlueFire competes in a market that also includes Halliburton, Baker Hughes and Schlumberger.
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