Offshore staff
HOUSTON – Varel International Energy Services has settled its litigation with Taurex Drill Bits, including claims of intellectual property infringement for specific drill bit technology.
The litigation 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 US Patent No. 10,538,970 was asserted as the basis for the proceedings.
On Sept. 22, 2020, the companies reached a business resolution and settled the disputes asserting infringement of Varel’s US Patent No. 10,538,970 intellectual property.
10/23/2020
