Drilling Tools International Corp. Completes Acquisition of Amsterdam-based European Drilling Projects

Core Viewpoint - Drilling Tools International Corp. (DTI) has acquired European Drilling Projects (EDP), enhancing its technological capabilities and global presence in the oilfield services sector [1][3][4]. Company Overview - DTI is a Houston-based oilfield services company that designs, engineers, manufactures, and rents tools for onshore and offshore drilling operations, with a focus on innovative solutions throughout the well life cycle [1][6]. - EDP, founded in 2004, specializes in developing advanced drilling tools for the directional drilling market, including bespoke equipment that addresses specific industry challenges [2][5]. Acquisition Details - The acquisition of EDP is aimed at integrating its cutting-edge drilling tool solutions into DTI's existing technology portfolio, particularly complementing DTI's Drill-N-Ream® technology [4]. - The terms of the acquisition were not disclosed, but it is expected to enhance DTI's competitive edge and reinforce its leadership in providing innovative drilling solutions [1][3]. Strategic Alignment - The integration of EDP's expertise aligns with DTI's international growth strategy and commitment to technological differentiation, further solidifying its market position [3][4]. - DTI's CEO emphasized that the acquisition will allow the company to offer premium, value-added tools in a market typically characterized by commoditization [4]. Team and Vision - DTI welcomes the EDP team and acknowledges the founders' contributions to the drilling industry, highlighting a shared vision for innovation and excellence [5]. - The partnership is expected to drive further advancements in drilling technology, leveraging DTI's extensive resources and market reach [5].