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Roy Alvarado, David Marrufo Tony Reyes, and Erin Webster Here in west Texas many oil, drilling and well servicing companies face a problem with down time. Many of these companies would like to reduce downtime; the less time spent changing out bits and tools the more profitable the company is. When drilling or working over wells there are times when pipe is stuck or broken off when being pulled out of the well. When this occurs you will go after it with fishing tools. Tool design. Downtime- unproductive rig time, in our case due to changing milling tools Fishing- the process of retrieving a lost object from a well bore Inserts- the interchangeable tool end of the junk mill assembly which can come in different designs for different applications Junk mill bit- a tool usually used on fishing jobs to prepare the pipe ends for the fishing tool Tungsten carbide rod- a composite rod which consists of tungsten carbide chips with a brass media, it is used as the cutting surface on the junk mill inserts cutting edge Establish a shop Marketing Delivery Competition Personnel Tool joint material = $50.00/ea Tool joint Welding Labor (@$20.00/hr) = $60.00/ea Tool joint Machinist Labor (@$20.00/hr) = $60.00/ea Insert Material (1” Plate) = $30.00/ea Insert Welding Labor (@$20.00/hr) = $60.00/ea Insert Machinist Labor (@$20.00/hr) = $60.00/ea Welding Rods (per insert) = $3.00/ea Clusterite Rods (per insert) = $40.00/ea Total approximate product cost (with 2 inserts): $363.00 86% of people surveyed expressed interest in our interchangeable inserts 71% would like to reduce downtime on fishing jobs 50% of our customers are willing to pay between $1000 and $1,500 $1,200 to buy a tool plus 2 inserts and $300 to re-tip Or $500 to rent Our first model will be the weld type where the inserts Will be welded on to the Tool joint. Our second model will be fastened to the tool joint by a threaded pin that secures the insert, making it even easier to exchange. De
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