Downhole cutting tool and anchor arrangement

1. A downhole cutting tool operable, when deployed, to create a cut through a wall of a tubular member, the cutting tool comprises:

a tool head assembly comprising:

a first tubular body providing a first housing and including a first locating anchor,

a second tubular body providing a second housing; and

a third tubular body providing a third housing which includes a cutting member, a first stabilizing anchor located downstream of the cutting member and a second stabilizing anchor upstream of the cutting member, wherein the second tubular and third tubular are rotationally fixed relative to one another when the first locating anchor is engaged with an inner surface of the wall of the tubular member, and

wherein the second tubular body may rotate relative to the first tubular body when first locating anchor is engaged with the inner surface of the wall of the tubular member.

2. A downhole cutting tool as claimed in claim 1 , wherein the second tubular body further comprises an actuating mechanism operable to control simultaneous activation and deactivation of the first stabilizing anchor and the second stabilizing anchor.

3. A downhole cutting tool as claimed in claim 2 , wherein the actuating mechanism includes a motor driven piston and an annular sleeve, wherein the annular sleeve is connected to each anchor to allow a motor to drive the piston to displace the annular sleeve to displace the first stabilizing anchor and the second stabilizing anchor simultaneously.

4. The downhole cutting tool as claimed in claim 1 , wherein the locating anchor is located upstream of the first stabilizing anchor, the second stabilizing anchor and the cutting member, wherein the second actuating mechanism is operable to actuate the locating anchor independently of the first stabilizing anchor and the second stabilizing anchor.

5. A downhole cutting tool as claimed in claim 4 , wherein the second actuating mechanism includes a motor driven piston and an annular sleeve, wherein the annular sleeve is connected to the locating anchor to allow a motor to drive the piston to displace the annular sleeve to displace the locating anchor.

6. A downhole cutting tool as claimed in claim 4 , wherein the first stabilizing anchor and the second stabilizing anchor are extendable from the third housing to maintain an angular position of the cutting member with respect to the tubular member by extending against the inner surface of the tubular member,

wherein the locating anchor is extendable from the first housing to maintain the cutting tool at a desired depth within the tubular member and prevent vertical displacement of the cutting tool with respect to the tubular member.

7. A downhole cutting tool as claimed in claim 1 , wherein the cutting member comprises a hole cutter.

8. A downhole cutting tool as claimed in claim 7 , wherein the hole cutter has an annular cross-section for creating a circular cut through the wall.

9. A method comprising:

deploying a cutting tool downhole in an inner area defined by a tubular member, the cutting tool comprising a tubular body providing a housing that houses a cutting member, a first stabilizing anchor downstream of the cutting member, a second stabilizing anchor upstream of the cutting member, and a locating anchor;

extending the locating anchor to maintain the cutting tool at a desired depth within the tubular member and to prevent vertical displacement of the cutting tool with respect to the tubular member;

extending the first stabilizing anchor and the second stabilizing anchor to maintain an angular position of the cutting member with respect to the tubular member; and

cutting the tubular member by extending the cutting member to the tubular member, wherein the cutting tool comprises at least an upper section comprising a first tubular and a lower section comprising a second tubular, wherein the locating anchor is housed in the upper section and wherein the first stabilizing anchor, the second stabilizing anchor and the cutting member are housed in the lower section,

wherein the lower section is rotationally connected to the upper section, wherein the lower section and the upper section include a common longitudinal axis and the lower section rotates relative to the upper section about the common longitudinal axis while the upper section is rotationally stationary.

10. The method of claim 9 , wherein the first stabilizing anchor and the second stabilizing anchor maintain the angular position of the cutting member with respect to the tubular member by extending against an inner surface of the tubular member.

11. The method of claim 9 , further comprising:

retracting the cutting member;

retracting the first stabilizing anchor and the second stabilizing anchor;

subsequent to retracting the first stabilizing anchor and the second stabilizing anchor and while extending the locating anchor:

adjusting the angular position of the cutting member;

re-extending the first stabilizing anchor and the second stabilizing anchor to maintain an adjusted angular position of the cutting member; and

performing another cut on the tubular member by extending the cutting member to the tubular member.

12. The method of claim 9 , wherein extending the first stabilizing anchor and the second stabilizing anchor includes extending the first stabilizing anchor and the second stabilizing anchor simultaneously using an actuating mechanism that includes a motor driven piston and an annular sleeve connected to each of the first stabilizing anchor and the second stabilizing anchor such that a motor drives the piston to displace the annular sleeve, which displaces the first stabilizing anchor and the second stabilizing anchor simultaneously.

13. The method of claim 12 , wherein the locating anchor is located upstream of the first stabilizing anchor, the second stabilizing anchor, and the cutting member and is actuated by a second actuating mechanism independently of the first stabilizing anchor and the second stabilizing anchor.

14. The method of claim 9 , further comprising:

subsequent to cutting the tubular member:

retracting the cutting member into the housing;

retracting the first stabilizing anchor and the second stabilizing anchor into the housing;

subsequent to retracting the first stabilizing anchor and the second stabilizing anchor into the housing, retracting the locating anchor into the housing; and

retrieving the cutting tool from the inner area of the tubular member.

15. The method of claim 9 , wherein extending the locating anchor comprises:

applying a deforming action on an inner wall of the tubular member by a portion of the locating anchor that includes a serrated disc.