BlueFire Equipment Corporation (OTCQB: BLFR) announced recently that it is exploring additive manufacturing techniques for the production of its proprietary polycrystalline diamond cutter (PDC) drill bits. The process is expected to expand engineering capabilities and dramatically reduce costs.
“We expect this highly advanced process will prove to be considerably faster and cheaper than existing cast methods and further establish BlueFire as an innovator in drill bit technology.” Chairman and CEO of BlueFire Equipment Corporation William A. Blackwell commented. Further: “additive manufacturing will allow us to produce very complex parts in a cost-effective manner, marking a potential paradigm shift in drill bit manufacturing.”
Entities such as NASA, Boeing, General Electric and Ford are using this technology to manufacture highly engineered components. Boeing has integrated 3D manufacturing into their regular supply chain processes, producing more than 20,000 printed parts for military applications.
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.