Drilling Tools International Corporation Stock Price, News & Analysis
Company Description
Drilling Tools International Corporation (NASDAQ: DTI) is an oilfield services company focused on the design, engineering, manufacture and rental of downhole drilling tools for the oil and natural gas industry. According to the company’s disclosures, DTI provides a rental-focused offering of tools used in onshore and offshore horizontal and directional drilling operations, as well as other solutions across the well life cycle. The company’s activities support operators engaged in crude petroleum and natural gas extraction.
DTI is based in Houston, Texas and trades on The Nasdaq Stock Market LLC under the ticker symbol DTI. The company’s roots trace back to 1984, and it has evolved through acquisitions and expansion in the oilfield services sector. Public information notes that DTI went public on the Nasdaq exchange in 2023 after a period of substantial growth.
Business focus and operations
Drilling Tools International manufactures, rents, inspects and refurbishes downhole drilling tools that are used in bottom hole assemblies for horizontal and directional drilling. Its offering is described as differentiated and rental-focused, with revenue derived from providing oilfield equipment and services to operators in the oil and natural gas sectors.
The company reports that it operates from a network of service and support centers. In North America, DTI has multiple service and support locations, and it also maintains international service and support centers across the EMEA and APAC regions. This footprint is intended to support customers in both onshore and offshore environments.
Geographic footprint
According to prior descriptions, DTI’s United States operations have included locations in states such as Texas, California, Louisiana, Oklahoma, Pennsylvania, North Dakota, New Mexico, Utah and Wyoming. More recent company information highlights 15–16 service and support centers across North America and 11 international service and support centers across EMEA and APAC, reflecting an expanded presence beyond its original regional base.
Customer base and sector
The company’s single reported segment derives revenues by providing oilfield equipment and services to operators in the oil and natural gas sectors. Its tools are used in horizontal and directional drilling of oil and natural gas wells, aligning DTI closely with the upstream portion of the energy value chain.
Corporate history and ownership background
Public statements about DTI’s history note that its roots date back to 1984. In 2012, Hicks Equity Partners, LP acquired a regional and privately held rental tool company called Directional Rentals and began a rapid expansion of the business. In 2013, a new management team was organized and the company was rebranded as Drilling Tools International. Over the following decade, the company grew substantially and became a publicly traded company on the Nasdaq exchange in 2023.
The company has also highlighted an acquisition-driven growth strategy in recent years. It has referenced acquisitions of businesses such as Superior Drilling Products, Deep Casing Tools, European Drilling Projects and Titan Tools Services as part of its efforts to gain additional scale, personnel, technologies and geographic expansion.
Public company status and reporting
As a Nasdaq-listed company, Drilling Tools International files periodic reports and current reports with the U.S. Securities and Exchange Commission (SEC), including Forms 10-K, 10-Q and 8-K. These filings provide detailed information on the company’s financial performance, risk factors, capital structure and significant events.
DTI has discussed non-GAAP measures such as Adjusted EBITDA, Adjusted Net Income, Adjusted Free Cash Flow and Adjusted EBITDA Margin in its public communications, alongside GAAP metrics. The company also notes risks typical for oilfield services providers, including dependence on industry activity levels, customer concentration, the need to retain skilled workers, sourcing tools and raw materials, and compliance with environmental and other regulations.
Leadership and governance developments
In December 2025, the company announced the passing of Thomas O. Hicks, who had served as Chairman of the Board. Following this event, the Board of Directors appointed the company’s President and Chief Executive Officer, Wayne Prejean, as interim Chairman of the Board. According to an 8-K filing, he continues to serve as President and Chief Executive Officer while acting as interim Chairman until the Board appoints a permanent Chairman or until his earlier resignation or removal.
In a separate 8-K filing, the company reported that Thomas M. “Roe” Patterson informed the Board of his decision to end his tenure as a director, effective concurrently with the company’s next annual meeting of stockholders, and that his decision was not the result of any disagreement with the company on matters relating to operations, policies or practices.
Capital allocation and investor outreach
DTI has publicly described a capital allocation approach that includes maintenance and organic growth capital investment, strategic acquisitions and returning capital to shareholders. In 2025, the company announced that its board of directors authorized a share repurchase program of up to $10 million of its common stock. The company has also highlighted participation in multiple investor conferences and regular quarterly earnings conference calls as part of its investor relations activities.
Position within the energy value chain
Within the broader mining, quarrying, and oil and gas extraction sector, Drilling Tools International operates as an oilfield services provider focused on downhole drilling tools and related services. Its tools support horizontal and directional drilling, which are key methods used in modern oil and natural gas development. By focusing on manufacturing, renting and maintaining these tools, DTI positions itself as a technical and operational partner to exploration and production companies.
Frequently asked questions (FAQ)
- What does Drilling Tools International Corporation do?
Drilling Tools International Corporation designs, engineers, manufactures and rents downhole drilling tools used in onshore and offshore horizontal and directional drilling of oil and natural gas wells. It also inspects and refurbishes these tools and provides related oilfield equipment and services. - In which industry and sector does DTI operate?
DTI operates in the crude petroleum and natural gas extraction industry within the broader mining, quarrying, and oil and gas extraction sector, serving operators through oilfield services and equipment. - How does DTI generate revenue?
According to company disclosures, DTI’s single segment derives revenues from customers by providing oilfield equipment and services to operators in the oil and natural gas sectors. This includes tool rental and product sales related to downhole drilling tools. - Where is Drilling Tools International based?
The company is based in Houston, Texas, and lists its common stock on The Nasdaq Stock Market LLC under the symbol DTI. - What is DTI’s geographic footprint?
DTI reports that it operates from service and support centers across North America and maintains international service and support centers across the EMEA and APAC regions. Its U.S. operations have included locations in several energy-producing states. - When did Drilling Tools International become a public company?
Public statements about the company’s history indicate that Drilling Tools International grew substantially over the decade following its rebranding in 2013 and went public on the Nasdaq exchange in 2023. - What are some elements of DTI’s growth strategy?
The company has described an acquisition growth strategy, noting transactions involving businesses such as Superior Drilling Products, Deep Casing Tools, European Drilling Projects and Titan Tools Services, along with organic growth initiatives and a rental-focused tool offering. - What recent governance changes has the company disclosed?
In 2025, DTI disclosed that its Chairman of the Board, Thomas O. Hicks, passed away, and that its President and Chief Executive Officer, Wayne Prejean, was appointed interim Chairman. The company also reported that director Thomas M. “Roe” Patterson plans to end his tenure on the Board, with no disagreement cited regarding company matters. - How does DTI communicate with investors?
DTI issues press releases on quarterly and annual results, hosts earnings conference calls, participates in investor conferences and furnishes investor presentations via Form 8-K filings. It also files periodic and current reports with the SEC. - What risks does DTI highlight in its public disclosures?
The company references risks such as dependence on oil and gas industry activity levels, customer retention, sourcing tools and raw materials, competition in oilfield services, integration of acquisitions, potential liabilities inherent in drilling operations, access to capital and compliance with environmental and other regulations, as described in its SEC filings.