HOUSTON--(BUSINESS WIRE)--A new oilfield drilling technology firm, Extreme Rock Destruction, LLC (XRD), has been announced today in Houston, Texas.
XRD has been formed to develop and commercialize innovative drilling technologies with priority focused on a patent pending integration of drill bit, downhole motor, and directional steering functions.
Ed Spatz, XRD CEO, stated, “This new technology promises to provide next generation drilling capabilities to operators seeking to reduce costs, reduce risk, increase efficiency, and reach well path goals more effectively in vertical, curve, and horizontal applications.”
Spatz continued, “The XRD team came together to reimagine how downhole tools can be combined and optimized innovatively to improve performance and target acquisition for operators. Over several months we have succeeded in detailing out a unique and compact approach to the challenges of simultaneously accomplishing efficient rock destruction and smooth well path control and correction.
“Even in today’s tough drilling market there is a demand for new technology if it can replace high cost equipment. XRD has been successful in putting in place development funding which is a marker of the strength of our team and the attraction of our technology. We have embarked on the tool development phase and look forward to continuing to advance our innovation fairways and further add to our team over the coming months.”
An extended announcement can be reviewed at www.xrockd.com.