After months of development work with the federal labs, NHF has filed the patent for an OIL & GAS INDUSTRY TECHNOLOGY that will reduce corrosion in down well operations. This federal lab-vetted, patent pending technology is ready for a Lea County-based business to take to market.
NHF serves as an intermediary for industry and the federal labs; this includes facilitating the technology development and licensing process.
After extensive work with the federal laboratory, BENET LABORATORIES, including work on sites and wells in Lea County, NHF had filed a provisional patent on an anti-corrosive solution for sucker rods for the oil and gas industry. This month, the NHF board approved the paperwork for submission of the actual patent for national AND international use. THIS TECHNOLOGY is PATENT PENDING and IS READY TO TAKE TO MARKET. NHF is now visiting with Lea County-based and Permian Basin-based companies and entrepreneurs who are interested in taking this federal lab-tested product to market.
NHF continues to review problems facing a broad array of oil and gas cluster businesses and identified corrosion as a significant and very wide spread problem in the petroleum and natural gas recovery and transportation business in Lea County New Mexico and throughout the world. NHF leadership reasoned that if existing Federal corrosion reduction technologies could be identified, tested, and made ready for commercialization by Lea County businesses, new markets of Lea County technology could be created throughout the Permian Basin and across the Nation.
After field testing in Lea County, Benet Laboratories proposed a path to partner with the laboratory to identify and prove out technologies beneficial to businesses in Lea County and elsewhere in the region. Working with Benet and the Picatinny Arsenal, NHF worked to identify the likely sources and potential solutions for corrosion attacking the iron compound rods that connect a pump jack with the pump at the bottom of oil and gas wells, specifically in Lea County, NM.
With the anti-corrosion technology now filed with the patent office, NHF has protected the intellectual property created. NHF is now ready to enter into agreement with a business partner to launch this product with patent protection. With a licensing or royalty agreement, a Lea County-based business will have a federally-vetted technology to take to market and create revenue.
A key component of New Horizons Foundation’s (NHF) efforts throughout New Mexico and the Permian Basin region is identifying key technologies at the federal labs that may be of use to the oil and gas industry cluster – then marketing those technologies and inventions to companies throughout the region. NHF facilitates licensing agreements, and can support funding for regional companies utilizing federal technologies and inventions.
Individuals or companies interested in learning more about the SUCKER RODS anti-corrosion technology, or other federal technologies available to them should contact: Dale Gannaway, Executive Director – New Horizons Foundation; firstname.lastname@example.org.