About Superior Drilling Products
Superior Drilling Products is a company based in Vernal (United States) founded in 1993, and was acquired by Drilling Tools in March 2024. PDC drilling tools are manufactured and related services are provided. The company has 86 employees. Superior Drilling Products offers products and services including PDC Tools and Drill Collars. Its legal entity is Drilling Tools International.
Company details
Superior Drilling Products was founded in 1993 and is headquartered in Vernal, United States. Operations focus on the oil and gas sector, where polycrystalline diamond compact (PDC) drilling tools are designed, engineered, manufactured, and refurbished. Fleet management systems for these tools are provided, along with wellbore optimization tools, premium pipe rentals, downhole inspection services, and manufacturing support.
- Headquarters Vernal, United States
- Employees 86
- Stage Acquired
- Website sdpi.com
- Social LinkedIn X Facebook
- Acquired by Drilling Tools (Mar 2024)
- Legal Name Drilling Tools International
- Annual Revenue$20.97 M (USD)10as on Dec 31, 2023
- Net Profit$7.44 M (USD)598as on Dec 31, 2023
- EBITDA$3.13 M (USD)-9as on Dec 31, 2023
- InvestorsUtah.gov
& 1 more
- Employee Count86
- Acquired byDrilling Tools
(Mar 2024)
Products & Services of Superior Drilling Products
Superior Drilling Products offers a comprehensive portfolio of products and services, including PDC Tools and Drill Collars.
Design and manufacturing of PDC tools are conducted for drilling applications
Supply of drill collars is managed for various drilling operations
Funding Insights of Superior Drilling Products
- Total Rounds 3
- First Round $3M
(Mar 2016)
- Investors Count 1
All 3 funding rounds of Superior Drilling Products with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep 2022 | Grant | – | – | ||
| Feb 2019 | $4.3M | Debt – Conventional | – | – | – |
| Mar 2016 | $3M | Debt – Conventional | – | – | – |
2 investors in total: 2 institutional.
Investors in Superior Drilling Products
Superior Drilling Products has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include Utah.gov and Drilling Tools.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
State government administration and public services are managed in Utah. | 1896 | utah.gov | United States | |
Manufacturer of industrial equipment | 1984 | drillingtools.com | Houston, United States |
Investor details for Superior Drilling Products
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of Superior Drilling Products
1 people are tracked at Superior Drilling Products (1 in leadership); the tracked headcount is 86.
| Name | Role | Group |
|---|---|---|
Wayne Prejean | CEO | Leadership |
Complete people profiles for Superior Drilling Products
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of Superior Drilling Products
5 dated milestones of Superior Drilling Products across 31 years, from founding to its latest funding, stage changes and deals.
- Founded Superior Drilling Products is founded.
- IPO Lists on the stock exchange (IPO).
- Funding First funding round of $3.0M.
- Funding Latest funding round, Grant,.
- Exit Acquired by Drilling Tools.
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Frequently Asked Questions about Superior Drilling Products
Superior Drilling Products was founded in 1993 and raised its 1st funding round 23 years after it was founded.
Superior Drilling Products is headquartered in Vernal, United States. It is registered at Vernal, Utah, United States.
Superior Drilling Products has 86 employees.
Annual revenue of Superior Drilling Products is $20.97M as on Dec 31, 2023.
Superior Drilling Products was founded in 1993 and is headquartered in Vernal, United States. Operations focus on the oil and gas sector, where polycrystalline diamond compact (PDC) drilling tools are designed, engineered, manufactured, and refurbished. Fleet management systems for these tools are provided, along with wellbore optimization tools, premium pipe rentals, downhole inspection services, and manufacturing support.
Superior Drilling Products offers PDC Tools and Drill Collars.
Superior Drilling Products has 2 investors. Key investors include Utah.gov, and Drilling Tools.
Superior Drilling Products operates through Drilling Tools International.
Yes. Superior Drilling Products was acquired by Drilling Tools in March 2024.