U.S. Expected to Become World’s Top Producer of Petroleum and Natural Gas This Year
November 14 2013 - 8:30AM
Business Wire
BlueFire’s customized engineering solutions keep pace with
dramatic industry growth
As the U.S. becomes the top producer of petroleum and natural
gas hydrocarbons, BlueFire Equipment Corporation (OTCQB: BLFR)
announced its team of scientists and engineers are working to
further calibrate and adapt its highly advanced drilling equipment
for a variety of environments and rock formations.
According to the U.S. Energy Information Administration, the
U.S. has now surpassed Russia and Saudi Arabia in petroleum and
natural gas production, with dramatic growth in Texas and North
Dakota.
Chairman and CEO of BlueFire Equipment Corporation William A.
Blackwell said, “As a result of BlueFire’s sophisticated
manufacturing techniques, the company has been able to increase the
advantages of its drilling equipment by adding customization while
continuing to reduce costs.” He added, “This is a timely
opportunity for BlueFire to provide its superior technology to U.S.
drillers, contributing to their global frontrunner position.”
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.
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.
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BlueFire Equipment CorporationWilliam Blackwell,
866-713-3700
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