Proprietary PDC drilling technology well received during CEO visit
(PublicWire.com Press Release) — HOUSTON, Aug 06, 2013 (BUSINESS WIRE) — BlueFire Equipment Corporation (OTCQB: BLFR) announced today that its CEO William Blackwell has recently returned from a successful series of meetings in the Midland, Texas area. Blackwell met with prospective clients that were pleased to learn more about BlueFire’s proprietary drill bit technology and indicated high interest in the company’s products.
Blackwell said, “With oil production in the Texas Permian Basin about to reach a million barrels a day, BlueFire is in a prime position to generate substantial business among drillers in the area who are eager for our leading edge PDC bits.”
As previously announced, BlueFire signed an agreement with Midland agent Tom Willis during this trip to serve as its representative in the Permian Basin. Willis will facilitate a local business presence for BlueFire, allowing greater collaboration with customers in the region.
BlueFire’s polycrystalline diamond cutter (PDC) drill bits are expected to become a sought-after commodity for their higher rates of penetration (ROP) and longer bit runs in hard rock formations and shales such as those found in the area.
BlueFire’s proprietary bit may provide much faster and longer drilling, without the need to stop and pull the entire drill pipe out of the well to replace a spent drill bit. According to recent findings, some wells can be drilled using a BlueFire bit without a single bit change, potentially saving considerable time and money for the driller. Last month, BlueFire announced it is working with the United States Patent and Trademark Office for an additional drilling tool patent.
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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