Deep Casing Tools
Development and manufacturing of casing and completion tools for oil & gas industry.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor investor | €0.0 | round | |
| N/A | €0.0 | round | |
* | N/A | Acquisition | |
| Total Funding | 000k | ||
Established in 2008 and headquartered in Westhill, Aberdeenshire, Deep Casing Tools operates as a technology development company specializing in downhole solutions for the global oil and gas industry. The firm was acquired by Houston-based Drilling Tools International (DTI) in March 2024 for £16.2 million, a move that followed a period of significant growth, including an 850% revenue increase over four years, culminating in being ranked 36th in the 2023 Deloitte UK Technology Fast 50. The company now operates as a division of DTI, with its management team, led by CEO David Stephenson, remaining in place to oversee continued expansion.
The business is centered on the design, engineering, and in-house manufacturing of patented technologies that add value to well construction, completion, casing installation, and recovery processes. Its clients are oil and gas operators across the globe, with a strong presence in Europe, the Middle East, Asia, and the Americas. The company's revenue model is based on the sale and rental of its specialized tool portfolio, supported by long-term contracts in key international markets. This global reach is significant, with approximately 90% of its technologies being exported.
Deep Casing Tools' product suite aims to reduce operational time, cost, and risk while enhancing predictability and safety. Key products include the TurboCaser™, a turbine-powered casing running system, and the TurboRunner™, for completion running systems. A notable offering is the Rubblizer™, a tool for casing extraction in plug and abandonment operations that breaks down the bond between cement and casing, reducing the required pulling force by up to 90%. Other products include the MechLOK™ Drill Pipe Swivel, the world’s first mechanically lockable drill pipe swivel, and the SelfLOK Floatation Device™ for extended-reach drilling wells. These turbine tools are distinguished by their ability to function effectively without surface string rotation, which significantly cuts down on rig days and operational expenses.
Keywords: downhole technology, well construction, well completion, casing recovery, oil and gas equipment, plug and abandonment, target depth technology, turbine-powered tools, reaming systems, drill pipe swivel, slot recovery, casing installation, wellbore operations, energy sector technology, cementing tools, drilling efficiency, offshore technology, onshore technology, Rubblizer, TurboCaser