HOUSTON--(EON: Enhanced Online News)--As well counts rise across the U.S., BlueFire Equipment Corporation (OTCQB: BLFR) announced that its proprietary polycrystalline diamond cutter (PDC) drill bit offers the potential for improved drilling efficiencies.
“In today’s demanding energy environment, technology that offers the prospect of time and cost savings is highly valued. BlueFire is pleased to be able to provide its proprietary drilling equipment which offers faster drilling and longer bit runs.”
According to Baker Hughes, the U.S. onshore well count is up from the second quarter of this year as a result of superior drilling technologies. Baker Hughes reports the average U.S. onshore drilling rig is now generating more wells, compared to last quarter.
Chairman and CEO of BlueFire Equipment Corporation William A. Blackwell said, “In today’s demanding energy environment, technology that offers the prospect of time and cost savings is highly valued. BlueFire is pleased to be able to provide its proprietary drilling equipment which offers faster drilling and longer bit runs.”
As previously announced, the BlueFire PDC bit drilled to a depth of 6,500 feet with only one bit. In Garvin County, Oklahoma, the BlueFire bit outperformed a major competitor by four bits and seven days. Over the course of a drilling program, BlueFire’s technology has the potential to save operators millions of dollars.
BlueFire’s exclusive design has the ability to provide higher rates of penetration (ROP) and longer bit runs in hard rock formations and shales, representing a breakthrough in drilling technology.
BlueFire bits employ large cutter face volumes for rapid drilling of shales, sandstones, limestones and sticky clays. These bits utilize premium PDC cutters for improved ROP and are designed using directed ports to accelerate cleaning and optimize cooling. Company findings indicate a decrease of more than 30 percent in temperature on the cutting surfaces, drastically reducing cutter wear and extending the life of the bit.
Conventional bits use nozzles that eject drilling fluid into the well bottom resulting in a general application and uneven distribution at the point of contact. BlueFire’s bit design employs strategically aligned nozzles to concentrate high-pressure jet streams directly on the cutting edge, lubricating the interface between the cutters and the rock formation being drilled. Furthermore, improved cleaning and scouring action facilitates removal of cuttings. The result is a bit that runs cleaner and cooler.
Details about BlueFire Equipment Corporation and information about obtaining a quote are available 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, where other major exploration and production companies have a presence, including ExxonMobil, BP and ConocoPhillips.
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