Superior Drilling Products Acquires OrBit Completion Drill Bits
Merger to Make Completion, Workover Drilling More Efficient
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.”