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ENERGY & UTILITIES
varelintl.com

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Founded Year

1947

Stage

Acquired | Acquired

Valuation

$0000 

About Varel International Energy Services

Varel International Energy Services is dedicated to providing drilling and downhole solutions to the oil & gas, mining, and industrial markets.

Varel International Energy Services Headquarter Location

1434 Patton Place

Carrollton, Texas, 75007,

United States

972-242-1160

Latest Varel International Energy Services News

Major Drilling and Downhole Solutions Provider Announces Settlement of Intellectual Property Lawsuit

Oct 25, 2020

By Varel International Energy Services Varel International Energy Services, a long-standing provider of drilling and downhole solutions, today announced their settled litigation with Taurex Drill Bits, including claims of intellectual property infringement for specific drill bit technology. “We are pleased to have this settlement complete as we continue to preserve the proprietary value our people have worked so hard to protect. We can now redirect more necessary attention towards further serving our customers with the industry-leading SlipStream™ drill bit platform. We are confident that customers and business partners will find this resolved dispute helpful when assessing future needs for drill out and milling operations. It will also allow the companies to focus on their individual strengths and allow fair competition in the marketplace,” said Varel CEO, Derek Nixon. The litigation between Varel and Taurex began on May 1, 2020 upon a lawsuit filed for patent infringement based on Taurex’s Bore Haug Drill Bit. Varel sued Taurex in the Southern District of Texas federal court as well as the International Trade Commission (ITC proceeding filed on June 4, 2020). Varel’s U.S. Patent No. 10,538,970 was asserted as the basis for the proceedings. On September 22, 2020, Varel and Taurex reached a business resolution and settled the disputes asserting infringement of Varel’s U.S. Patent No. 10,538,970 intellectual property. Ken Ripple, Patent Manager of Varel, went on to state, “Varel is an innovative company with a proud history of vigorously enforcing its intellectual property, and this case was no different. This particular resolution enables both respective companies to serve their customers in a fair and prudent manner.”  This settlement comes on the heels of various new technology developments and forthcoming commercial launches within the Varel drilling and downhole solutions portfolio. Flag Content TAGS

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Varel International Energy Services Patents

Varel International Energy Services has filed 97 patents.

The 3 most popular patent topics include:

  • Drilling technology
  • Petroleum production
  • Oil wells
patents chart

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3/16/2018

3/17/2020

Fluid dynamics, Drilling technology, Metal heat treatments, Glass coating and surface modification, Force

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3/17/2020

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Related Topics

Fluid dynamics, Drilling technology, Metal heat treatments, Glass coating and surface modification, Force

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Status

Grant

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