Bakers Hughes sues Varel over 'cloned' drill bit
Oilfield services giant alleges Varel copied design of drill-bit
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The oilfield services and technology provider Baker Hughes is to suing Varel International in the US courts over claims that Varel has copied the design of a best-selling drill bit.
Bloomberg reported that the company is alleging that Varel managers who were former employees at Baker Hughes used stolen design specifications to clone a similar drill bit in Varel’s product line.
“Without the information contained in the Baker Hughes documents, the creation of all the dimensions and features of the drill bit would have taken multiple years,” Baker Hughes lawyer Michael Sutton is reported by Bloomberg as saying.
“We think the actual damages could be on the order of tens of millions of dollars,” he added.
Baker Hughes are seeking the return of the allegedly stolen documents, a temporary restraining order and “uncapped” exemplary damages.
Varel International has yet to comment on the lawsuit.