Superior Drilling Products Inc. has acquired the OrBit completion drill product line from Tenax Energy Solutions. The purchase includes the manufacturing, marketing, sales rights and current inventory of the drill bit product line.
“The OrBit drill bit technology opens up the completion and workover markets for our downhole tool manufacturing business,” says Troy Meier, CEO of Superior Drilling Products. “With the recent commodity price reductions, workover and completion activities are likely to become a greater focus for capital spending by the exploration and production companies that we serve as they work to get the most out of their existing production fields.”
OrBit drill bits are built to more efficiently carry out completion and workover jobs. They do so through the use of carbide cutting structures on a unicone bit design. The bits minimize milling time in the wellbore.
“With the addition of this technology, we are now able to offer a lower cost method of drilling frac plugs and to re-enter producing wells for workover and re-completion activities,” Meier says.
Superior Drilling Products is a provider of drilling products for the oil, natural gas and mining services industries. The company makes, sells, repairs and rents drilling tools. It also manufactures and refurbishes PDC drill bits and markets drill string tools including the patented Drill-N-Ream. For details, visit www.sdpi.com.