Superior Drilling announces additional Drill-N-Ream sales
Superior Drilling Products announced that its distribution partner, Drilling Tools International, has exceeded its minimum requirement for tool orders of $2M. The initial distribution agreement signed in May required a minimum order of $1.5M of Drill-N-Ream tools by September 30. The geographic area and minimum purchase requirements were expanded in August to include the entire U.S. and Canada with an additional $0.5M of required tool purchases. DTI exceeded its requirements, purchasing $2.3M in tools as of the end of Q3. And, DTI has ordered approximately an additional $580,000 of tools in the first two weeks of October. DTI's order levels reflect strong end-user demand for the tools.