Superior Drilling Products has been leading the industry as the most innovative and top-of-the-line PDC drill bit facility in the world for over 20 years. We are an innovative, cutting-edge remanufacturer of PDC (polycrystalline diamond compact) drill bits, and a designer and manufacturer of new drill bit and horizontal drill string enhancement tools for the oil, natural gas and mining services industry, headquartered in Vernal, Utah. Our vision is to expand our market share and solidify our position as a leading drill component manufacturer in the oilfield services industry, by leveraging our industry-leading technology and design.
Diamond Products的外部链接
1583 S. 1700 E.
US，UT，Vernal，84078
Congratulations on the acquisition and welcome to the DTI team!
With the acquisition of Amsterdam-based?European Drilling Projects, we reaffirm our commitment to advancing directional drilling through innovative tool development and global growth. We're excited to welcome Jelle Zwart and the EDP team, and we look forward to this new chapter together! For more information ? https://lnkd.in/gz5eNDRi ED-Projects BV
The Diamond Products team at Drilling Tools International, Inc. would like to share a bit about what our teammates at Deep Casing Tools are doing in the Middle East. To learn more about Deep Casing, please check out their website: https://lnkd.in/gJ4TmWSj
Two MechLOK350-T drill pipe swivel tools have been recently redressed and prepared in Abu Dhabi. These robust tools are set to be deployed for a Middle East operator, supporting upcoming high deviated and long lower completion runs.? Well done to our Abu Dhabi team for continuing to deliver quality and reliability for ongoing operations within the region. #innovation #technology #oilandgas #energy #wellconstruction #wellcompletion #drilling #engineering #oilandgas #norway #extendedreachdrilling #ERD #targetdepth #abudhabi #middleeast
We’d like to thank all our honored guests and the generous sponsors who helped us make this evening a tremendous success. Looking forward to next year!
Our Diamond Products team in Vernal, UT recently celebrated the 6th annual First Responders and Veterans Dinner, honoring the heroes who serve the community. This year, with the support of local radio stations, the Chamber of Commerce, Ashley Regional Medical Center, and local businesses, we hosted well over 100 guests. The event featured live music by Two Weeks Notice, prizes, bouncy houses, and refreshments.?The Miss Uintah County pageant court also joined us, making it a memorable evening. We look forward to hosting an even larger group next year as this event continues to grow in popularity, especially among nurses and paramedics. A heartfelt thank you to those who serve and protect! #CommunityHeroes #FirstResponders #MissUintahCounty #HonoringOurVeterans?#AshleyRegionalMedicalCenter??
HOUSTON,?Aug. 6, 2024?/PRNewswire/ --?Drilling Tools International Corp., (NASDAQ: DTI) ("DTI" or the "Company"), a global oilfield services company that designs, engineers, manufactures and provides a differentiated, rental-focused offering of tools for use in onshore and offshore drilling operations, as well as other cutting-edge solutions across the well life cycle, today announced that it has closed on its acquisition of Superior Drilling Products, Inc. ("SDP") for total consideration paid in cash and DTI stock of approximately?$32.2 million?per the merger agreement, subject to purchase price accounting adjustments. DTI also reported today its 2024 second quarter results. Wayne Prejean, CEO of DTI, stated, "We are pleased to announce the closing of the SDP acquisition and are excited to welcome SDP's talented team to the DTI family and add SDP's world-class manufacturing expertise into our broad-reaching and expanding global sales channels. This acquisition furthers DTI's growth strategy as a premier provider of technologically differentiated solutions and services for the global oil & gas drilling industry. Directly integrating SDP's patented Drill-N-Ream? ("DNR") well bore conditioning tool into DTI's vast fleet of tools and technologies provides expanded geographic market potential, lowers our capital requirements and operating costs, and improves operational efficiencies across our portfolio of capabilities. SDP's unique offering of proprietary diamond process expertise, sophisticated manufacturing capabilities, and their recently established?Middle East?footprint will greatly benefit DTI's technology focused product and service offering on a global scale." Prejean added, "We expect to benefit from significant synergies over the next twelve months from this acquisition and have identified more than?$4.5 million?of SG&A synergies and realizable NOL tax benefits. In addition, there are vertical and horizontal integration synergies that include approximately 60% CapEx savings on new?DNR?tools and a 45% Repair & Maintenance margin capture. I would also like to highlight that in addition to the?Vernal, Utah?SDP bit repair, manufacturing, and technology center, we gained a fully operational bit repair facility in the?UAE?and several hundred fit-for-purpose?DNR?tools on the ground in the?Middle East?which gives us fuel in the tank to serve our clients in the region. We also gained an approximately?$6.6 million?receivable from the selling party to extinguish an existing Note which will accrue to DTI's benefit, effectively reducing the overall transaction amount."
We're family here at Superior. So what does that mean on Super Wildcard Weekend? It means that when your favorite team looses, your boss brings you flowers... Dead flowers to match your mood. Go Steelers! Go Cowboys... um... next year. #pittsburghsteelers #dallascowboys
The MENA and US teams are coming together in Dubai to take advantage of some fantastic opportunities. What a great looking crew!
Bridging borders, building bonds. Uniting our US and MENA talent and celebrating the beautiful mosaic of cultures within our team. #SDPI #HardRockSolutions #inclusion #diversity