Annular pressure regulating diaphragm and methods of using same

A pressure relief device for compensating for a change in pressure within an isolated outside environment within a wellbore, the pressure relief device comprising:

• a tubular member having an outer wall surface and an inner wall surface defining a bore;
• a housing disposed on the outer wall surface of the tubular member, the housing having a housing outer wall surface, a housing inner wall surface, a port disposed through the housing outer wall surface, and a housing chamber, the port being in fluid communication with an isolated outside environment outside of the tubular member;
• an expandable member disposed within the housing chamber, the expandable member comprising an upper end, a lower end, an outer wall surface, and an inner wall surface, the inner wall surface defining an interior portion of the expandable member, the interior portion being in fluid communication with the port, and the outer wall surface of the expandable member and the housing inner wall surface defining a sealed chamber,
• wherein the expandable member expands within the housing chamber due to an increase in pressure within the isolated outside environment outside of the tubular member.

A method of reducing pressure within an isolated wellbore annulus, the method comprising the steps of:

• (a) disposing a tubular string within a wellbore, the tubular string comprising
• a tubular member having a housing, the housing having a port and an inner wall surface defining a housing chamber,
• an expandable member disposed within the housing chamber, the expandable member comprising an interior portion in fluid communication with the port, an outer wall surface of the expandable member and the inner wall surface of the housing defining a sealed chamber,
• a first wellbore barrier operatively associated with the tubular member, and
• a second wellbore barrier operatively associated with the tubular member, the second wellbore barrier being disposed below first wellbore barrier,
• (b) establishing an isolated wellbore annulus with the first and second wellbore barriers, the port being in fluid communication with the isolated wellbore annulus;
• and
• (c) expanding the expandable member within the housing chamber due to an increase in pressure within the isolated wellbore annulus causing the sealed chamber to have a reduced volume, thereby reducing pressure within the isolated wellbore annulus.