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Drilling Tools International Corp. Completes Successful Acquisition of Titan Tools Services Ltd.

Houston, Texas – In a major step towards expanding its global footprint, Drilling Tools International Corp. (NASDAQ: DTI) has officially completed its acquisition of Titan Tools Services Ltd., a leading UK-based downhole tool rental company specializing in advanced drilling equipment. This acquisition, finalized on January 2, 2025, not only enhances DTI's existing product offerings but also strengthens its presence in significant markets including the North Sea, Europe, and Africa.

Established in 2009 and based in Aberdeen, Scotland, Titan Tools has built a reputation for renting and servicing premier drilling equipment essential for the oil, gas, and geothermal industries. This acquisition is a pivotal milestone in DTI's strategic growth plans, aimed at positioning the company as a comprehensive solution provider in the global drilling sector.

CEO Wayne Prejean expressed his enthusiasm regarding the acquisition, stating, "We are thrilled to officially welcome Titan Tools to the DTI family. This strategic move significantly expands our international footprint, particularly in the UK's North Sea, Europe, and Africa. Titan's technical expertise and established customer relationships align perfectly with our existing operations, allowing us to present a more integrated suite of solutions to our clientele worldwide."

Key Benefits of the Acquisition

1. Geographical Expansion: DTI can now tap into Titan's established networks in key markets, enhancing its service delivery in lucrative regions.
2. Technological Advancements: The acquisition provides DTI with access to advanced technologies and tool designs from Titan, broadening its range of offerings in downhole drilling tools.
3. Customer Relationships: Titan's longstanding connections with European and African customers will fortify DTI's position and facilitate smoother market penetration.
4. Innovative Product Adoption: DTI aims to accelerate the market adoption of its cutting-edge solutions like the Drill-N-Ream® and Fixedblade® stabilizer through Titan's established channels.

Leadership Perspectives

Bruce Jepp, Managing Director of Titan Tools, remarked, "Joining forces with DTI opens up exciting opportunities for our team and customers. Our shared commitment to technological advancement and superior customer service will enable us to deliver comprehensive solutions throughout the well life cycle."

The integration of Titan into DTI's operations will commence immediately, with efforts directed at ensuring business continuity during the transition. By leveraging synergies between DTI and Titan, the company aims to deliver enhanced service offerings across its global market presence.

About Drilling Tools International Corp.

Drilling Tools International Corp. is a leading oilfield services provider based in Houston, Texas. Specializing in the manufacturing and rental of downhole drilling tools, DTI plays a crucial role in supporting the horizontal and directional drilling of oil and natural gas wells. With a legacy that dates back to 1984, DTI has expanded its operations throughout North America and maintains international service centers across the EMEA and APAC regions. For more information about DTI, visit drillingtools.com.

Conclusion

The completion of this acquisition marks a significant step forward in Drilling Tools International Corp.’s ambition to enhance its market position and service capabilities. As the oil and gas industry continues to evolve, DTI is committed to adapting and providing cutting-edge solutions for its global clientele.