Superior Drilling Products (SDP) has entered a new four-year vendor agreement with Baker Hughes Oilfield Operations (BH) to offer exclusive drill bit refurbishment services.
SDP chairman and CEO Troy Meier said: “We have had a long-term relationship with Baker Hughes and are excited about this mutually beneficial agreement that extends our services for them.
“We believe the expansion of the market we serve and the minimum volume requirement provided by the new agreement were the result of our quality work, responsive service and consistency over many years.
“We appreciate Baker Hughes as a customer and look forward to continuing to serve them well, both as part of this agreement and with our other drilling tool technologies.”
The deal allows for modifications in the event of market deterioration and either party has the right to cancel the agreement with six-months’ notice.
SDP is a US-based designer and manufacturer of drilling tool technologies for the oil and natural gas drilling industry. Solutions available include the Drill-N-Ream wellbore conditioning tool and the Strider oscillation system technology.
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By GlobalDataIn addition, the manufactures and refurbishes polycrystalline diamond compact (PDC) drill bits for an unnamed oil field service company.
