Louisiana Patent of the Month – July 2023
In the ever-evolving world of oil and gas exploration, technological advancements continue to push the boundaries of efficiency and effectiveness. One such groundbreaking innovation comes from Fortress Downhole Tools, LLC, a leading pioneer in downhole equipment. Their latest invention, a gas-operated setting tool, promises to streamline the way plugs and other downhole equipment are set within wellbores.
Traditional wireline setting tools have long been plagued by complexity and cumbersome designs. They require multiple personnel to handle, making operations time-consuming and labor-intensive. Fortress recognized the need for a compact and cost-efficient alternative, leading to the development of their cutting-edge gas-operated setting tool.
At the heart of this innovation is a pressure sub that houses an inner chamber and a mandrel operationally attached to it. An outer cylinder assembly, in fluid communication with the inner chamber, can alternate between a running position and a setting position when axial force is applied. What sets this tool apart is the inclusion of a dampening assembly, consisting of a plug housing, a moveable ball, and a dampening media. This assembly regulates the axial force applied to the outer cylinder assembly, ensuring precise and controlled operations.
The gas-operated setting tool operates by igniting a power charge within the pressure sub. As the power charge burns, it generates gas pressure that acts upon a piston surface of the outer cylinder assembly. This force causes the outer cylinder assembly to stroke from the running position to the setting position, securely setting downhole plugs and other equipment.
Fortress’ setting tool offers a compact design which make it lighter and easier to handle, eliminating the need for extensive manpower. Additionally, the absence of oil for dampening means fewer parts and seal areas, minimizing the risk of leakage and human error. This innovative setting tool is a game-changer for the oil and gas industry. Its efficiency and effectiveness will streamline operations, allowing for quicker redressing and reuse.
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
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The Research & Experimentation Tax Credit (or R&D Tax Credit), is a general business tax credit under Internal Revenue Code section 41 for companies that incur research and development (R&D) costs in the United States. The credits are a tax incentive for performing qualified research in the United States, resulting in a credit to a tax return. For the first three years of R&D claims, 6% of the total qualified research expenses (QRE) form the gross credit. In the 4th year of claims and beyond, a base amount is calculated, and an adjusted expense line is multiplied times 14%. Click here to learn more.
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