Drilling Tools International Corp

Drilling Tools International Corporation (Nasdaq: DTI) operates as a global oilfield services company providing rental-focused downhole drilling tools and solutions for onshore and offshore horizontal and directional drilling operations. The company maintains its website at www.drillingtools.com.

The company designs, engineers, manufactures and rents a differentiated portfolio of tools used across the well lifecycle, including directional drilling tools, stabilizers, drill collars in steel and non-magnetic variants, hole openers, roller reamers, and sub-assemblies. DTIC also offers wellbore optimization technologies and has expanded into plug and abandonment, slot recovery, and completion enhancement solutions through recent acquisitions.

DTIC operates through two geographic segments. The Western Hemisphere segment focuses on North America and Latin America, providing comprehensive downhole drilling tools and services from 15 strategically located service and support centers across major oil and gas producing basins. The Eastern Hemisphere segment represents the company's expansion into Europe, the Middle East, and Asia-Pacific, supported by 11 international service centers and strengthened through acquisitions including Deep Casing Tools, European Drilling Projects, and Titan Tools. The Western Hemisphere and Eastern Hemisphere segments each represent approximately 50 percent of revenue.

The company maintains a fleet of over 65,000 tools deployed across multiple locations to meet diverse customer demands. DTIC's customer base comprises diversified oilfield services companies accounting for approximately 48 percent of revenue, exploration and production operators representing approximately 48 percent of revenue, and equipment manufacturers comprising approximately 4 percent of revenue. Major customers include Baker Hughes, Halliburton, Chevron, and SLB.

DTIC employs 432 full-time employees and contractors, including 40 sales professionals organized into city and field sales teams. The company operates a proprietary customer order management and support system called COMPASS that optimizes inventory, tool transfers, and fleet utilization while providing customers with ordering transparency.

The company traces its operational origins to Directional Rentals, Inc., founded in 1984, which became Drilling Tools International, Inc. in 2014. DTIC completed its merger with ROC Energy Acquisition Corp in June 2023, with common stock commencing trading on Nasdaq under the symbol DTI on June 21, 2023.