Drilling Tools International shares are trading lower after the company announced that it will acquire Scottish tool rental company Saltire for $80 million in cash and 17.4 million of its own shares.

Shares of oil and gas-related companies are trading higher after reports suggesting that Iran placed its armed forced on high alert for 72 hours. Also, reports of an attempted Houthi strike on Saudi Arabia's Red Sea port of Yanbu and another Iranian strike on a vessel near the Strait of Hormuz may fuel concerns that high energy prices may persist and benefit the sector.

The Zacks Analyst Blog Highlights Crescent Energy, Devon Energy, Energy Transfer, Cenovus Energy and Drilling Tools International

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.

Drilling Tools Intl Reports Q2 2026 Results: Full Earnings Call Transcript

Drilling Tools Intl (NASDAQ:DTI) reported second-quarter financial results on Friday. The transcript from the company's second-quarter earnings call has been provided below. Benzinga APIs provide real-time access to

8-K filing — Drilling Tools International Corp (DTI)

Filed: 2026-10-13 AccNo: 0001193125-26-419607 Size: 161 KB Item 8.01: Other Events