HOUSTON--(EON: Enhanced Online News)--BlueFire Equipment Corporation (OTCQB: BLFR) announced today it has received an order from an international distributor for a customized version of its proprietary polycrystalline diamond cutter (PDC) drill bit.
“We are pleased we have been able to increase the attributes and reduce costs for this equipment using our advanced manufacturing techniques.”
Chairman and CEO of BlueFire Equipment Corporation William A. Blackwell said, “Our team of scientists and engineers are working to further calibrate and adapt our leading-edge technology to meet the needs of this international customer.” He added, “We are pleased we have been able to increase the attributes and reduce costs for this equipment using our advanced manufacturing techniques.”
BlueFire’s ability to provide customization as well as cost savings has ushered in new opportunities for expansion as it continues to develop its intellectual property. As previously announced, 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. A second patent disclosing further claims for PDC drill bits and methods is currently under review by the U.S. Patent and Trademark Office.
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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