DTI Acquires Titan Tools to Strengthen Drilling Services

Zacks01-07 18:31

Drilling Tools International Corporation DTI, a global oilfield services company, has completed the previously announced acquisition of Titan Tools Services Ltd., a U.K.-based company renowned for its...

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The acquisition will position DTI to provide a comprehensive solution for onshore and offshore drilling operations across the well’s life cycle.DTI recently completed two major acquisitions: European Drilling Projects and Superior Drilling Products. Both acquisitions enhanced DTI’s technological capabilities and its global influence. The company also secured $105 million in financing to support its growth initiatives and international expansion. These developments highlight DTI’s efforts to remain a market leader in the oil and gas industry.Houston, TX-based Drilling Tools International is an oilfield services company that manufactures and rents downhole drilling tools for horizontal and directional drilling of oil and natural gas wells. Currently, DTI has a ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GPRK":"GeoPark Ltd","BK4213":"石油与天然气的勘探与生产","FTK":"Flotek工业","AETUF":"Arc Resources Ltd.","TWI":"泰坦国际","BK4109":"特种化学制品","BK4179":"石油天然气设备与服务","BK4152":"农用农业机械","DTI":"Drilling Tools International Corp."},"translate_title":"DTI收购Titan Tools以加强钻井服务","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AETUF":1,"DTI":1,"FTK":1,"TWI":1,"GPRK":0.9},"content_text":"Drilling Tools International Corporation DTI, a global oilfield services company, has completed the previously announced acquisition of Titan Tools Services Ltd., a U.K.-based company renowned for its downhole tool rental services. The acquisition will position DTI to provide a comprehensive solution for onshore and offshore drilling operations across the well’s life cycle.\nOverview of Titan Tool’s Acquisition by DTI\nDTI announced the acquisition of Titan Tools in 2024 to align with its technical expertise and customer relationships and offer comprehensive solutions to its customers. The acquisition would expand DTI’s international footprint in the U.K. North Sea, Europe and Africa. It would also enhance the company’s technological capabilities in downhole drilling tools and help DTI to accelerate the market adoption of innovative tools like the Drill-N-Ream and Fixedblade stabilizer. DTI plans to integrate Titan’s operations seamlessly, prioritizing business continuity and leveraging combined strengths.\nDTI’s Recent Acquisitions\nDTI recently completed two major acquisitions: European Drilling Projects and Superior Drilling Products. Both acquisitions enhanced DTI’s technological capabilities and its global influence. The company also secured $105 million in financing to support its growth initiatives and international expansion. These developments highlight DTI’s efforts to remain a market leader in the oil and gas industry.\nDTI’s Zacks Rank and Key Picks\nHouston, TX-based Drilling Tools International is an oilfield services company that manufactures and rents downhole drilling tools for horizontal and directional drilling of oil and natural gas wells. Currently, DTI has a Zacks Rank #3 (Hold).\nInvestors interested in the energy sector might look at some better-ranked stocks like GeoPark Limited GPRK,ARC Resources Ltd. AETUFand Flotek Industries, Inc. FTK. While GeoPark currently sports a Zacks Rank #1 (Strong Buy), ARC Resources and Flotek Industries each carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.\nHamilton, Bermuda-based GeoPark Ltd is an explorer, operator and consolidator of oil and gas. The Zacks Consensus Estimate for GPRK’s 2024 earnings indicates 19.39% year-over-year growth.\nCalgary, Canada-based ARC Resources is engaged in the exploration, acquisition and development of oil and natural gas properties. AETUF’s expected EPS (earnings per share) growth rate for next year is 50.78%, which aligns favorably with the industry growth rate of 11.60%.\nFlotek Industries develops and delivers prescriptive chemistry-based technology, including specialty chemicals, to clients in the energy, consumer industrials and food & beverage industries. The Zacks Consensus Estimate for FTK’s 2024 earnings indicates 125% year-over-year growth.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nArc Resources Ltd. (AETUF) : Free Stock Analysis Report\nFlotek Industries, Inc. (FTK) : Free Stock Analysis Report\nGeopark Ltd (GPRK) : Free Stock Analysis Report\nDrilling Tools International Corp. (DTI) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation,merge","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.0","shortVersion":"4.30.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2501208406"}