________________________________________________________________________________ Drilling Tools International
Having celebrated its 40th anniversary in 2024, Drilling Tools International( DTI) is a leading provider of downhole tools to both the land and offshore drilling markets. Offering products and services to multiple segments in drilling, completion, production, and plug and abandonment, DTI supports major companies and strives to innovate new products and technologies that keep companies ahead of ever-changing requirements. Its extensive portfolio includes everything from directional tools and next generation stabilizers to premium pipe rentals and wellbore optimization tools and services.
Since its foundation in 1984, DTI has built a strong reputation and network across North America, but over the last 12-to-18-months, the company has extended the focus to growing its presence in the Eastern Hemisphere. DTI acquired four businesses throughout 2024: Deep Casing Tools, Superior Drilling Products International, European Drilling Projects, and Titan Tools.
As the former CEO of Deep Casing Tools, David Stephenson oversaw Deep Casing Tools’ acquisition and later transitioned to the role of Vice President for the Eastern Hemisphere. Based in Aberdeen, UK, David’ s current role focuses on continued growth in the Eastern Hemisphere as well as other DTI expansion plans. We catch up with David to learn more about the company’ s evolution and its expansion strategy.
“ DTI is an oil, gas, and energy service company that has been trading in North America for over 40 years and was listed on the NASDAQ in June 2023,” David opens.“ Since then, DTI has focused on global expansion with a specific emphasis on the Eastern Hemisphere. In 2024, DTI acquired
Not only is DTI expanding into new geographies, we’ re also expanding our offering and capabilities
four companies, three of which were based and registered in the Eastern Hemisphere and the other was a US-based company with significant operations in the Middle East.
“ That’ s where I come into things; I had been the CEO of Deep Casing Tools, which was the first company to be acquired by DTI in March 2024, since 2018. My background is in design engineering, with most of my career focusing on the development and commercialization of various technologies. We still have a team of engineers from Deep Casing Tools, who push the boundaries by inventing new tools and securing IP for innovative technologies.
“ As the Vice President for the Eastern
Hemisphere, my role is to manage the integration of the recently acquired companies and to oversee the company’ s strategic expansion. This includes rebranding the other businesses to ensure the DTI brand is well represented in every region in which we operate.”
Turning to the company’ s portfolio and service offering, David continues:“ Historically, DTI was a drilling and rental tool business supplying products to directional drilling companies and operators. More recently, the company is expanding into offering more technologies, particularly with acquisitions, as three of the four acquired companies boast their own patented technologies, which sets us apart from our competitors in the drilling and rental tool market. Not only is DTI expanding into new geographies, we’ re also expanding our offering and capabilities.”
It’ s clear that the Eastern Hemisphere is a strategic growth region for DTI, so we’ re keen to learn more about how David is executing this strategy.“ Previously, as a small company, we worked through local partners, but now
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