Tubing conveyed perforating system with completion fluid loss control

A reliable tubing conveyed perforating operation may be coupled with methods and equipment for substantially minimizing the loss of completion fluids, thereby allowing recovery of the expensive completion fluids and preventing damage to the formation. A one-way valve is biased for closing the interior of the tubing string, but is normally held open by a stop member structurally interconnected to the perforating gun. Upon the firing of the perforating gun, an automatic gun release mechanism allows the gun to drop in the wellbore, thereby axially dropping the stop member from a position which prevents the closure of the one-way valve. According to the method of the present invention, the tubing string above a set packer may be disconnected and picked up to isolate the tubing string from the perforating gun. The perforating gun may then be fired and, the one-way valve is automatically closed so that completion fluids above the one-way valve will not be lost in the perforations below the one-way valve.