BlueFire Equipment Corporation (OTCQB:BLFR) revealed today that a Wyoming exploration company signed a purchase order for BlueFire's polycrystalline diamond cutter (PDC) drill bit. Along with this deal, BlueFire has the opportunity to provide the operator additional equipment for up to three more wells.

Chairman and CEO of BlueFire Equipment Corporation William A. Blackwell said, "We are excited about breaking into this market and further evidencing the performance of our advanced drilling technology." He added that BlueFire's representative will be on location as drilling commences and will also meet with other oil and gas companies in the area.

In order to improve performance and reduce drilling costs per foot, BlueFire bits employ large cutter face volumes for rapid drilling of shales, sandstones, limestones and sticky clays. These bits utilize premium PDC cutters for improved rates of penetration and are designed using directed ports to accelerate cleaning and optimize cooling. Company findings indicate a decrease of more than 30 percent in temperature on the cutting surfaces, drastically reducing cutter wear and extending the life of the bit.

Conventional bits use nozzles that eject drilling fluid into the well bottom resulting in a general application and uneven distribution at the point of contact. BlueFire's bit design employs strategically aligned nozzles to concentrate high-pressure jet steams directly on the cutting edge, lubricating the interface between the cutters and the rock formation being drilled. Furthermore, improved cleaning and scouring action facilitates removal of cuttings. The result is a bit that runs cleaner and cooler.

BlueFire's proprietary bit may provide much faster and longer drilling, without the need to stop and pull the entire drill pipe out of the well to replace a spent drill bit. According to recent findings, some wells can be drilled using a BlueFire bit without a single bit change, potentially saving considerable time and money for the driller.