Drilling Tools International Corp. Market Research Report

Company Overview

Company Name: Drilling Tools International Corp.

Mission Statement: To be the leader in quality and service as a value-based supplier to our customers, driven by innovation and committed to meeting the evolving needs of the oil and gas industries.

Founding Year and Founder: Founded in 1984 by Ronnie Russo.

Key People:

Wayne Prejean, President and CEO

David Johnson, Chief Financial Officer

Mike Domino, President, Directional Tool Rentals Division

Aldo Rodriguez, Vice President, Sales

Trent Pope, Vice President, Wellbore Optimization

Jim Rowell, Vice President, Premium Tools

Ashley Lane, Vice President, International Business Development

David Stephenson, Vice President, DTI Division Leader, Deep Casing Tools

David Cotten, Vice President, Technical Services and QHSE

Veda Ragsdill, Vice President, Human Resources

Christian Middleton, Vice President, Finance

Jameson Parker, Vice President, Corporate Development

Headquarters: 3701 Briarpark Drive, Suite 150, Houston, TX, USA

Number of Employees: No information is available

Revenue: No information is available

Known for: Drilling Tools International is renowned for providing innovative and reliable solutions in the drilling technology field, serving the oil, gas, and geothermal industries.

Products

1. Drill-N-Ream®

Description: A wellbore conditioning system used to eliminate dedicated reamer runs. Suitable for both vertical and horizontal applications.

Key Features:

Reduces torque and drag.

Minimized bead and friction reducer usage.

Reduces stick/slip and hook loads.

2. RotoSteer™

Description: A technology for driving the Bottom Hole Assembly (BHA) independently from the drill string.

Key Features:

Enhances drilling performance.

Continual drill string rotation.

Cost-effective for extended reach horizontal wells.

3. Drill Collars (Non-Mag & Steel)

Description: Used to add weight to the bit and stiffness to the bottom hole assembly.

Key Features:

Manufactured from AISI 4145H modified heat-treated alloy steel.

Available in slick, flex, spiral, and pony variants.

4. Stabilizers

Description: Essential for reducing vibrations and optimizing wellbore geometry.

Types:

Integral Blade Stabilizers

Sleeve Type Stabilizers

Welded Blade String Stabilizers

5. Deep Casing Tools

Description: Tools supporting various well lifecycle stages, enhancing efficiency and safety.

Key Features:

TurboCaser: Enables casings and liners to be landed at target depth.

Rubblizer: Allows quick removal of casing without the need for costly milling operations.

Recent Developments

New Product Launches and Features:

RotoSteer™: Introduced to enhance performance in extended reach applications.

TurboCaser and Rubblizer: Showcased at ADIPEC 2024, focuses on delivering enhanced efficiency and well integrity.

Recent Acquisitions:

Acquisition of European Drilling Projects, based in Amsterdam.

Acquisition of Superior Drilling Products, Inc. to expand the Drill-N-Ream tool service.

Partnerships and Expansion:

Definitive agreement to acquire UK-Based Titan Tools Services Ltd., expanding downhole tool services globally.

Opening new facility in Leduc for Alberta operations.

Corporate Milestones:

Celebrating 40 years by reflecting on growth from a local provider to a global market leader and going public on Nasdaq.

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This report provides an extensive overview of the organization's key offerings, initiatives, and strategic direction. The information presented highlights Drilling Tools International's dedication to manufacturing excellence, technological advancement, and strategic expansions in the oil and gas sector.