Alaska Patent of the Month – May 2023

When drilling oil wells and gas wells, drill cuttings are a common byproduct. These cuttings are carried to the surface by a drilling fluid, creating a slurry which is eventually transported to a vacuum tank for holding. If the temperatures are cold enough, this slurry may freeze, making it incredibly difficult to unload. In response to this common issue, MagTec Alaska, LLC has created a heated slurry transport system. 

MagTec Alaska’s solution is a heated portable vacuum box, which includes a portable tank with a layer of insulation. The box is double walled, securing the insulation between each layer. A heating unit attached to the portable tank heats a fluid, like glycol, that is transferred through a heat loop to heat the interior and contents of the tank. The portable unit can be readily transported by any vehicle, simplifying the process of managing slurry in any oil or gas site.

This innovative solution to a common problem in the oil and gas industry shows the importance of research and development (R&D) in solving practical issues. MagTec Alaska’s invention showcases the power of technology to improve and optimize industries, reducing time and costs in the process. The heated portable vacuum box provides an alternative to traditional vacuum boxes and vacuum trucks, improving the efficiency of transporting cuttings slurry in cold weather environments. This is a prime example of how R&D can make a significant impact on industries and pave the way for further innovations.

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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Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

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