Louisiana Patent of the Month – February 2024
Swivel Rental & Supply, LLC, experts in swivel and torque technology, have been supplying the Gulf of Mexico with innovative products for over 15 years. The company is bringing another layer of efficiency to the oil and gas exploration industry with their newly patented invention – the modular swivel stand apparatus. This cutting-edge technology is set to transform the way drilling operations are conducted, offering unparalleled efficiency and safety.
At the heart of this invention lies a meticulously designed structure comprising multiple components seamlessly integrated for optimal functionality. The swivel stand apparatus consists of two distinct base structures, a flange base, and a jack base, each equipped with unique features to adapt to different wellhead configurations. The versatility of the apparatus allows it to be easily attached to a wellhead, providing a stable foundation for subsequent operations.
A key element of this innovation is the modular work basket, a structure that connects to the base structures. This work basket comes with interchangeable parts, enabling it to be used on the floor of an oil well drilling rig or directly attached to the wellhead. The specially designed pipe supports within the basket facilitate the vertical positioning of pipe sections, allowing for efficient and organized operations.
To enhance mobility and adaptability, the swivel stand apparatus incorporates flanged beams that enable the stand tower to slide back and forth. Friction-reducing members are strategically placed to ensure smooth motion between the stand horizontal beams and the basket flanged beams, preventing wear and ensuring longevity.
One remarkable feature of this invention is the inclusion of a locking mechanism that allows the swift connection and removal of the upper assembly to the sliding mast beams. This innovative approach not only streamlines the rigging process but also enhances overall safety during operations.
Swivel Rental & Supply, LLC has taken into account the challenges posed by the removal of well casing in the oil and gas industry. The swivel stand apparatus provides a stable platform for cutting and lifting tubular sections, significantly improving the efficiency of plugging and abandonment operations. The incorporation of a rotating boom assembly further contributes to the ease of handling tools and materials.
Swivel Rental & Supply, LLC’s modular swivel stand apparatus stands as a testament to their commitment to advancing drilling technology. With its modular design, adaptability to various wellhead configurations, and emphasis on safety and efficiency, this invention is poised to become a game-changer in the realm of oil and gas exploration.
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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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