Drilling Tools International Corp. (DTI) of Houston has acquired Vernal-based Superior Drilling Products Inc., according to a joint release from the companies. The purchase price was announced at $32.2 million, payable in cash and DTI stock. The closing of the transaction is expected to occur in the third quarter of 2024.
Drilling Tools International is an oilfield services company that manufactures and rents downhole drilling tools used in horizontal and directional drilling of oil and natural gas wells. Founded in 1993, Superior designs, manufactures, repairs and sells drilling tools, including its Please log in to see the rest of this story.
