BlueFire Prepares Additional Patent Filing
BlueFire Prepares Additional Patent Filing
New offshore production equipment could be key for industry majors
HOUSTON--(BUSINESS WIRE)-- BlueFire Equipment Corporation (OTCQB: BLFR) announced today 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 U.S. 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.
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.
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.
BlueFire Equipment Corporation
William Blackwell, 866-713-3700
KEYWORDS: United States North America Texas
INDUSTRY KEYWORDS:
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