Extreme Rock Destruction Evolves to Form XR Companies

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.

Contacts

XR Companies
Brandi Sherman
[email protected]