BlueFire Equipment Corporation (OTCQB: BLFR) is preparing units of its
newly developed premium steel bit line for shipment to a Chinese client
as it solicits new business in the Asian oil and gas market. BlueFire is
attracting international attention as it cultivates its presence in
China.
According to a recent CNN report, Chinese demand for petroleum will be a
key factor in the global energy outlook for 2014 and beyond. China will
seek more domestic hydrocarbons, including unconventional resources such
as shale gas, tight oil and coal-bed methane, intensifying the need for
superior drilling technology.
BlueFire Chairman and CEO William A. Blackwell said, “Our industry
relies on high-quality, standardized equipment to meet the world’s
growing demands. Our new technology is expected to enhance drilling
performance, reduce costs and increase efficiency at each site.” He
added, “Feedback from operators using BlueFire’s original bit line in
Oklahoma and Wyoming reveals a savings of 3 to 4 days of drilling time
on 6,500 foot wells, with the potential of saving operators millions of
dollars.”
The redesigned high performance bits will further increase the
advantages of BlueFire’s drilling technology, featuring premium cutters
with enhanced calibrations to the bit body. The company anticipates the
premium bit line will generate a new revenue stream, especially in the
international arena where outdated technology can be easily replaced.
Details about BlueFire Equipment Corporation and information about
obtaining a quote are available at www.bluefireequipment.com.
About BlueFire Equipment Corporation (OTCQB: 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 and in international markets. 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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