Abstract

An improved plug type valve of the type having seat and reseat retractable seals, the plug assembly having a tapered faceted cylindrical plug with a waterway therethrough. A first pair of shut-off slips is positioned on the plug for axial movement, relative to the plug, wherein the plug surfaces adjacent the shut-off slips are tapered for retracting the shut-off slips as the plug is moved vertically in a first direction relative to the inlet and the outlet of the valve. A pair of thru-bore slips are positioned on the plug adjacent the waterway for relative axial movement therebetween. The plug surfaces adjacent the thru-bore slips are tapered for retracting the thru-bore slips as the plug is moved vertically in a second direction, relative to the inlet and outlet of the valve. The thru-bore slips have a thru-bore aperture to permit flow through the waterway without leakage around the plug and thus the interior of the valve body, when the waterway is aligned with the inlet and outlet.