BlueFire Drilling Technology Outperforms the Competition
Improved design achieves benefits over prior drill bit systems
HOUSTON -- July 15, 2013
BlueFire Equipment Corporation (OTCQB: BLFR) announced today that recent
analyses of data from drilling results in the field indicate its proprietary
polycrystalline diamond cutter (PDC) drill bit technology is a potential game
changer in the drilling industry.
On a recent well in Oklahoma, the BlueFire PDC bit drilled to a depth of 6,500
feet with only one bit, outperforming a major competitor by four bits and
seven days. Feedback from this and other operators using BlueFire’s PDC bits
is that over the course of a drilling program, BlueFire’s technology has the
ability to save operators millions of dollars.
Chairman and CEO of BlueFire Equipment Corporation William A. Blackwell said,
“BlueFire is pleased to be part of the improved drilling technology that is
boosting exploration across the country and leading to energy independence for
As previously announced, 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.
In order to improve performance and reduce drilling cost per foot, 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 with computational fluid dynamics
(CFD) directed ports to accelerate cleaning and optimize cooling of large
diameter PDC cutters. 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 bottom of the
wellbore 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 steams 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.
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
BlueFire Equipment Corporation
William Blackwell, 866-713-3700
Press spacebar to pause and continue. Press esc to stop.