Wyoming Patent of the Month – November 2021
Kustom Koncepts, Inc. is a one-stop shop for sheet metal and steel cutting, turning, milling, drilling, and can complete both fabrication and assembly in-house. Recently, they have developed a skid mounted oil well production processing system.
During oil production processes, a reservoir fluid is transported to the surface to be separated into il, gas, and water. The products can then be treated and conditioned for transport. This production process is carried out in a surface installation of wells, manifolds, pipelines, production lines and more. Over time, the well’s oil production decreases by 50% which results in the originally installed equipment being oversized for their purpose. Replacing these with smaller parts requires the production well to be shut down and purged.
Kustom Koncepts’ design allows for the contraction or expansion of the oil production system through the use of skid mounted components without needing to shut down or perform onsite welding. Their design uses a modular skid mounted on the oil production system. Multiple skid sections are connectable through alignment pins along the skid beam structure. The skid sections have piping manifolds for fluid flow and separators to separate the water-oil mixture. This design is repeated for each skid section. One side has a fork pin connector with guide plates. The other side has a knife connector. The two shields can be joined by these fork and knife components by simply pushing together and engaging the alignment pins. If the production site needs a smaller separator, they can remove sections as and replace them with skid sections with smaller separator pieces, all without welding on site.
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.
Who We Are:
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.
