Resource Well Completion Technologies Inc. Cleared in Patent Dispute

Resource Well Completion Technologies Inc. Cleared in Patent Dispute

CALGARY, Alberta, Nov. 14, 2017 (GLOBE NEWSWIRE) -- On November 3rd, 2017, the Federal Court of Canada (the ?Court?) rendered its decision with regard to a patent infringement proceeding commenced by Packers Plus Energy Services against Resource Well Completion Technologies Inc. (?Resource?) and others. The Court ruled that, for various reasons, the Packers Plus patent is invalid.

As such, infringement on the patent cannot have taken place. In its statement of claim, Packers Plus alleged that Resource infringed a patent belonging to Packers Plus for a method of ?multi-stage fracturing? commonly referred to as the ?Open Hole Multistage Ball Drop System? used in horizontal drilling and completions.

Resource has long asserted that the Packer Plus patent was invalid. The Court has now officially upheld that position. ?We are pleased with the results of this decision. This is good news for Resource and the industry as a whole,? said Jim Schmidt, President & Chief Executive Officer of Resource. ?Patenting of intellectual property is important and must be used properly to protect genuinely new and novel inventions. However, patents that are incorrectly issued cause damage and setbacks to advancements in industry.?

Resource Well Completion Technologies is a Canadian based provider of well completion equipment and services to the global oil and gas industry.  Resource's offerings include unique and proprietary systems for stimulating oil and gas wells such as open hole ball drop sleeve systems, coil activated sleeve systems, Fracture initiation valves, liner hanger systems, conventional and ultra-large bore plug and perf systems along with a diverse range of conventional completion and well servicing tools and equipment.

For more information or to arrange an interview:
Jo Williams
C. 403-827-9820
E. [email protected]