Nov 17 2014
Superior Drilling Products, Inc., a provider of drilling products for the oil, natural gas and mining services industries, has been awarded a third patent addressing the important utility, processes, benefits and applications of the Drill-N-Ream™ tool to condition a well bore while drilling.
U.S. Patent number 8,851,205 titled, "Method and Apparatus for Reaming Well Bore Surfaces Nearer the Center of Drift," was issued on October 7, 2014, and provides the Company with further legal protection of the proprietary features of the tool and its function.
Troy Meier, Founder and CEO of Superior Drilling Products, noted, "This third patent for our Drill-N-Ream tool further underpins the value of our intellectual property and provides us with a strong and solid protection against any attempts to replicate our tool and its proprietary function. The protection provided through this patent will help us execute our growth strategy to deepen the penetration of the Drill-N-Ream tool oil and natural gas drilling market through both the capture of market share in the basins that the tool is currently being used along with geographic expansion into un-tapped basins."
The third patent is a continuation of the previously awarded patents numbered 8,813,877 and 8,752,649 issued on August 26, 2014 and June 17, 2014, respectively. Superior Drilling Products designs, manufactures and markets the Drill-N-Ream to exploration and production companies.
Source: http://sdpi.com/