Drilling Tools International (DTI), a global oilfield services company, has closed its acquisition of European Drilling Projects known as ED Projects (EDP).

 

DTI designs, engineers, manufactures and provides a differentiated, rental-focused offering of tools for use in onshore and offshore drilling operations, as well as other cutting-edge solutions across the well life cycle. EDP is a global provider of next-generation stabilisers, specialty reamers, and wellbore optimisation technology for the drilling industry. Terms of the transaction were not disclosed.

 

Founded in 2004, EDP has been dedicated to advancing drilling processes and developing innovative tools for the directional drilling market to improve drilling performance and provide value to the customer. 

 

Bespoke drilling equipment

EDP designs and manufactures bespoke drilling equipment tailored to address specific industry challenges. These cutting-edge tools, which include the Fixedblade stabiliser, effectively address recognised limitations in conventional designs and significantly enhance drilling efficiency.

 

The integration of EDP's expertise aligns seamlessly with DTI's international growth strategy and commitment to technological differentiation. The acquisition of EDP not only enhances DTI's competitive edge but also reinforces its position as a leader in providing innovative drilling solutions to the global oil and gas industry.

 

Wayne Prejean, Chief Executive Officer of DTI, stated: "This acquisition is another significant step in our technological advancement and global expansion efforts. Specifically, EDP brings additional cutting-edge drilling tool solutions to DTI's technology portfolio, complementing our existing Drill-N-Ream technology. 

 

“By securing EDP's innovative technology, intellectual property, and key personnel, DTI is poised to offer premium, value-added tools in a market segment typically characterised by commoditisation. In addition, the EDP Eastern Hemisphere footprint and established market penetration further compliments DTI's global expansion strategies.  

 

Deep knowledge base

"Additionally, we are excited to welcome the EDP team to the DTI family and would like to recognise Tom Newman and Lauraine Kaal, founders of EDP, for their visionary approach, deep knowledge base, and their trust in us to carry forward their legacy. Our shared goals create a robust synergy between our organisations and reinforce DTI's commitment to remaining a market leader and innovator. We are excited to collaborate with Jelle Zwart, Managing Director, and the rest of the talented team at EDP as we continue to address the evolving challenges of the drilling industry."

 

Newman added: "Since founding EDP in 2004, we have been committed to enhancing the drilling process and pioneering tools for the directional drilling market. We are thrilled to join forces with Drilling Tools International, a company that shares our vision for innovation and excellence in the upstream oil and gas market. DTI, combined with its extensive reach, resources and cutting-edge technologies like our Fixedblade stabiliser, is a game-changer in the industry. We are excited to see how this partnership will drive further advancements in drilling technology."--TradeArabia News Service