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Drilling Tools International To Acquire Tool Rental Company Saltire For ~$80M In Cash And 17.4M DTI Shares
Saltire Energy Limited and Foxley Energy Limited (combined "Saltire") is a leading Aberdeen-based provider of rental drilling tools serving the North Sea, Middle East, Asia Pacific, and other key Eastern
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Energy sector M&A activity is accelerating with elevated crude prices around $90/barrel supporting strategic acquisitions. Crescent Energy is acquiring Devon Energy's Eagle Ford assets for $3.85 billion, Energy Transfer is acquiring Vaquero Midstream for $2.63 billion, Cenovus Energy is acquiring Athabasca Oil for C$5.7 billion, and Drilling Tools International is acquiring Saltire and Foxley for approximately $80 million in cash and stock. These transactions are expected to enhance operational efficiency, expand production capacity, and generate significant synergies for the acquiring companies.
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8-K filing — Drilling Tools International Corp (DTI)
Filed: 2026-10-13 AccNo: 0001193125-26-419607 Size: 161 KB Item 8.01: Other Events