Junk Mill Bit with Interchangeable InsertsITEC 3380Managing TechnologySpring 2010

Roy Alvarado, David MarrufoTony Reyes, and Erin Webster

Introduction

Problem

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.

Purpose of Project

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.

Definitions of Key Terms

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

Business Plan

Establish a shop

Marketing

Delivery

Competition

Personnel

Financial Data

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

Survey Results

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

Product Development

Making a mill bit consistsof two parts: Tool Joint andthe interchangeable inserts.

Weld Type

Our first model will be the weld type where the inserts Will be welded on to theTool joint.

Tool Joint by a threaded pin

Our second model will befastened to the tool jointby a threaded pin that securesthe insert, making it even easier to exchange.

Conclusion

Design

Product Cost

Many Job Positions

Reduce downtime

Review of References

These are Baker Hughes junk mills compared to our mill bit tool. Their Superloy junk mill is designed for the milling of debris where milling inserts are considered too aggressive. http://www.bakerhughesdirect.com/cgi/bot/resources/ExternalFileHandler.jsp?bookmarkable=Yes&channelld=-546906701&programld=546999388&path=/private/BOT/public/fishing/conventional_fishing/milling_washover/superloy_junk_mill.html

These are Weatherford junk mills compared to our mill bit tool. Their aluminum casing alignment tool has a simple, but rugged, design-aluminum blades welded to an aluminum body. http://weatherford.com/weatherford/groups/web/documents/weatherfordcorp/www018598.pdf

These are GOTCO International junk mills compared to our mill bit tool. Gotco junk mills are available dressed with super tough Gotcoloy (crushed, sintered tungsten carbide.) They also have them in many sizes. http://www.gotco-usa.com/milling-washover/junk_mills.html