HOUSTON--(EON: Enhanced Online News)--BlueFire Equipment Corporation (OTCQB: BLFR) revealed today that it has filed a provisional patent application for its proprietary offshore production technology at the United States Patent and Trademark Office (USPTO). The filing is currently under review by a USPTO examiner.
“With the patent in place, BlueFire will be in a prime position to develop its leading-edge technology as the industry seeks solutions to challenging deepwater conditions.”
The new equipment design is yet another platform in BlueFire’s growing portfolio of intellectual property. The patent was filed as a direct result of recent meetings with an oil major regarding development of deepwater technology for producing oil from offshore wells under extremely high heat and pressure.
Chairman and CEO of BlueFire Equipment William A. Blackwell said, “Oil production from offshore fields is expected to intensify as deepwater exploration and production efforts ramp up in the Gulf of Mexico.” He added, “With the patent in place, BlueFire will be in a prime position to develop its leading-edge technology as the industry seeks solutions to challenging deepwater conditions.”
BlueFire’s first patent filing was related to its polycrystalline diamond cutter (PDC) drill bit technology and was issued on January 24, 2012 as U.S. Patent 8,100,201. A second patent disclosing further claims for PDC drill bits and methods is currently under review by the USPTO, file number 12/833,413.
As previously announced, BlueFire’s proprietary PDC drill bit may provide much faster and longer drilling, without the need to stop and pull the entire drill pipe out of the well to replace a spent bit. According to company findings, some wells can be drilled using a BlueFire bit without a single bit change, potentially saving drillers considerable time and money.
Details about BlueFire Equipment Corporation and information about obtaining a quote are available at www.BlueFireEquipment.com.
About BlueFire Equipment Corporation (OTCQB: 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, where other major exploration and production companies have a presence.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release only speaks as of the date of its distribution.