Two subs are held in a fixed position relative to each other when assembled to a string and run into a wellbore. A reservoir of fluid is defined in a wall between the subs. The reservoir has one or more outlets connected by a short jumper line to an adjacent tool to be operated. At the appropriate time, set down weight breaks a shear pin to reduce the reservoir volume and create pressure in the exit lines. The exit lines can be connected to operating pistons in adjacent tools to actuate them or to perform other desired functions using a stream of pressurized fluid. The device can be set for one time or multiple cycles where fluid in the reservoir can be replenished and re-pressurized for multiple cycles of operation.