From North America to the Eastern Hemisphere, Drilling Tools International is growing across the globe 

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 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 we’re bigger, we can establish our own entities in other countries, which helps to grow brand awareness too,” he explains. “We’re initially targeting Malaysia, the UAE, Saudi Arabia, and Indonesia, as these countries are not only active areas for energy, oil, and gas activities, but we also believe these will provide us with great brand awareness as we strive to replicate what we’ve achieved in North America. 

“We’re currently establishing an entity in Abu Dhabi in the UAE, which will serve the Middle East and North Africa region, and another in Kuala Lumpur in Malaysia to serve the Asia Pacific region. For each site, we’re passionate about hiring local people and investing in these communities. In Abu Dhabi, for instance, we’ve committed to a long-term lease for a workshop and office that’s designed specifically for our operations. We’ve also secured a facility in Saudi Arabia, and we plan to have both sites up and running by the end of 2025.” 

With a clear and strategic focus, DTI is sure to continue reaching new heights in both the Western and Eastern Hemispheres. “The last 12-to-18 months has seen us focus on the Eastern Hemisphere, with a goal for the DTI brand to become just as well known here as we are in North America, and over the next five years, I’d like to see the Eastern Hemisphere accounting for half of DTI’s turnover,” David shares. “By diversifying, we’re mitigating potential longer-term risks, a global presence will ensure stability even in a sometimes-volatile North American drilling market, as the Eastern region is often more predictable. 

“However, while we’re emphasizing growth in the Eastern Hemisphere, we’re not dropping the ball in North America, and we’re continuing to develop new technologies to remain at the forefront of industry innovation,” he concludes. “We’re engaged in several conversations about potential acquisitions, some of which are small technology companies and others are larger. One thing is certain; both organic and acquisitive growth are well engrained in our business strategy, and we plan to achieve our goals by investing in people, equipment, and facilities.”  

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