Drilling Tools International Acquires Deep Casing Tools

Houston-based downhill drilling manufacturer Drilling Tools International Corp. acquired UK-based wellbore product engineer and manufacturer Deep Casing Tools to expand its presence both domestically and internationally and enhance its product offering.

Established in 2008, Deep Casing Tools specializes in the design, engineering and manufacture of a range of patented products for well construction, well completion and casing installation processes. Since 2012, Deep Casing Tools has supported operators within the energy sector globally, including areas within the Middle East as well as Europe, America and Asia.

   

“With this acquisition of Deep Casing Tools, along with the pending acquisition of Superior Drilling Products, Inc., we continue to demonstrate our established M&A framework and robust M&A pipeline that will allow us to selectively consolidate the oilfield services industry,” DTI CEO Wayne Prejean said in a March 18 news release.

David Stephenson, CEO at Deep Casing Tools, commented: “By maintaining complete control over the entire engineering and manufacturing process, the partnership of DTI and Deep Casing Tools will ensure unrivaled quality and design in its solutions worldwide.”

Energy Ventures III LP, the largest shareholder in Deep Casing Tools, will exit the company upon completion of the acquisition.

Details of the transaction were not disclosed.

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