Abstract: A running tool for setting and retrieving well devices in and from wells having a mandrel reciprocable in its axial bore and slips suspended from the mandrel for reciprocation therewith into and out of supporting engagement with a well device, the bore including a counterbore in its lower portion permitting expansion of the slips into releasing position and a reduced lower extremity for contracting said slips into supporting position. A spring, confined in the counterbore around the mandrel, constantly urges said mandrel and slips downwardly and permits relative downward movement of the tool and expansion of the slips upon setting of the well device.