Publié par : investorseuropegi | août 31, 2016

‘Superior Drilling Products Announces Sales of Previously Operated Drill-N-Ream

VERNAL, Utah, Aug. 31, 2016– Superior Drilling Products, Inc., a designer and manufacturer of drilling tool technologies, today announced an expanded agreement with the distributor of its Drill-N-Rea

Source: snip.ly

‘The Company announced that Drilling Tools International, Inc. (“DTI”) has agreed to purchase $0.5 million of previously operated Drill-N-Ream® well bore conditioning tools from SDP with the option to purchase more.  The purchase will be paid in three installments, during the third quarter of 2016.  This is in addition to the $1.5 million purchase agreed upon in May 2016, of which $1.2 million of tools have been ordered and $0.3 million will be ordered in September.  The agreement also expands DTI’s exclusive territory to include the Rocky Mountain region.  The total territory covers the U.S. and Canada both onshore and offshore, as well as all North American offshore areas including North Pacific and Atlantic and the Caribbean.  Exclusivity is subject to achieving certain market penetration rates.’

 


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