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DTI to Acquire Saltire Energy in Cash and Stock Deal

10/9/2026

Drilling Tools International Corp. (US) has entered into a definitive agreement to acquire Saltire Energy Limited and Foxley Energy Limited.

The transaction values Saltire at approximately $80 million in cash and 17.4 million shares of DTI common stock.

While the cash component is fixed, the market value of the share consideration will fluctuate with DTI's share price.

Wayne Prejean, Chairman and Chief Executive Officer of Drilling Tools International, announced the deal during a conference call held on October 8, 2026.