Junk Mill Bit with Interchangeable Inserts ITEC 3380 Managing

Roy Alvarado, David Marrufo Tony Reyes, and Erin Webster

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.

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 

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Establish a shop

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Marketing

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Delivery

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Competition

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Personnel

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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

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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

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Welding Rods (per insert) = $3.00/ea Clusterite Rods (per insert) = $40.00/ea

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Total approximate product cost (with 2 inserts): $363.00

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86% of people surveyed expressed interest in our interchangeable inserts

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71% would like to reduce downtime on fishing jobs

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50% of our customers are willing to pay between $1000 and $1,500

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$1,200 to buy a tool plus 2 inserts and $300 to re-tip

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Or $500 to rent

Making a mill bit consists of two parts: Tool Joint and the interchangeable inserts.

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.

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Design

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Product Cost

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Many Job Positions

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Reduce downtime

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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?bookmarka ble=Yes&channelld=546906701&programld=546999388&path=/private/BOT/public/fishing/conventional_fishin g/milling_washover/superloy_junk_mill.html

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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/www01859 8.pdf

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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/millingwashover/junk_mills.html