HOUSTON--(BUSINESS WIRE)--Houston-based oilfield technology company Extreme Rock Destruction, originally announced in 2016 by Ed Spatz, Mike Reese and Jim Dudley, has evolved into the XR Companies. The XR Companies are comprised of XR Lateral, XR Dynamics and XR Reserve.
XR Lateral – XR Lateral innovates and develops downhole drilling technologies with the primary purpose of assisting E&P Companies to better drill directional and horizontal wells with emphasis on shale plays.
XR Dynamics - XR Dynamics has been created to investigate improvements to drilling motors and new methods of rock destruction that are transformative and fall outside of today’s commercial offerings.
XR Reserve – XR Reserve is a technology accelerator for selected in-house and externally developed innovations. XR Reserve leverages the processes and systems refined during the creation of XR Lateral and the experience and skills of the XR Team.
CEO Ed Spatz explains how the natural evolution of the company led to the formation of the three distinct divisions.
“The fundamental goal of Extreme Rock Destruction was to develop and commercialize innovative drilling technologies. Initially we focused on the integration of drill bit, downhole motor, and directional steering functions. As Extreme Rock Destruction evolved we produced a portfolio of innovations that form the basis of our current businesses. This evolution into the XR Companies reflects how we see ourselves and our position as we move forward,” Spatz said.
He continued, “XR Lateral produced technologies and processes that are now being pursued by XR Dynamics and XR Reserve. To give these vessels the energy they need to succeed, we knew we needed to dedicate resources to each group. We look forward to the continued success of the XR Companies and our team.”
For more information about the XR Companies and their technology, visit www.xrteam.com.
About The XR Companies
The XR Companies are a formation of petroleum industry professionals who have refocused to provide real solutions to real problems in the field. With a mission to refocus, reform and redefine, the suite of companies is comprised of specialized XR Lateral, XR Dynamics and XR Reserve. Our partners are driven by the idea of disruptive adaptive innovations to create solutions reforming standard products and making them better. A rapidly expanding enterprise, both in personnel and in our products and ideas, we strive to bring the very best in solutions to the market.