Richard Raney
Round Rock, TX (USA)
Role(s):
Founder/Owner/Principal
RA-TECH
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Startup
Location:
Round Rock
Industry:
Energy
Year Founded:
2013
Number Employees:
1-10 people
Business Stage:
Growth (not profitable)
Entity Type:
"C" Corporation
Description:
A NEW COMPANY
TO PRODUCE AND MARKET A HIGH PERFORMANCE DRILLING TOOL TO THE OIL AND GAS DRILLING INDUSTRY
Executive Summary
The Company is being formed to produce and market a new High Performance drilling bit to the drilling industry. This new, tested and patented drill bit drills deep wells top-to-bottom and substantially reduces drilling costs by reducing the costly rig time for drilling wells, and by producing a straight, high quality bore hole. Cost savings for customers can range from $50K to $1M per inland well, depending on well depth and drilling conditions. Savings in offshore wells can be several times as much.
The market potential for our product is not based on costs or prices of bits, but instead is based on the drilling cost savings to customers.