BlueFire Prepares Additional Patent Filing
27-Aug-2013
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HOUSTON, TX - BlueFire Equipment Corporation announced in a press release that initial discussions with one of the oil majors have paved the way for new offshore technology development. At the request of the major, BlueFire is preparing a provisional patent application to be filed with the United States Patent and Trademark Office (USPTO).
As shallow oil becomes increasingly difficult to find, major oil and gas companies are turning to high-pressure, offshore wells that have the potential to produce more than 50,000 barrels of oil per day. However, in order to access the oil new technology must be developed to handle the extreme conditions.
COO of BlueFire Equipment Anatoli Borissov said, “The provisional patent application provides us with a mechanism to protect our design and at the same time accommodates for improvements to the application during the development process.” He added, “We believe we have a great addition to our portfolio of intellectual property and a solution that could be extremely valuable to the industry.”
BlueFire’s first patent filing related to its polycrystalline diamond cutter (PDC) drill bit technology was issued on January 24, 2012 as US 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.
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.