Drilling Tools International to Acquire Saltire Energy for $80 Million

Key Facts

1Drilling Tools International signed a definitive agreement to acquire Saltire Energy Limited and Foxley Energy Limited.

2Total consideration consists of approximately $80 million in cash and 17.4 million shares of DTI common stock.

3The transaction is expected to expand the company's Eastern Hemisphere presence to approximately 40% of pro forma revenue.

Drilling Tools International signed a definitive agreement to acquire Saltire Energy Limited and Foxley Energy Limited for approximately $80 million in cash. PR Newswire reported that the total consideration also includes 17.4 million shares of DTI common stock.

The transaction is expected to expand the company's Eastern Hemisphere presence to approximately 40% of pro forma revenue. DTI closed at $2.36 on October 7, 2026, after reaching a session high of $2.40 during the same day.