26 Jun 2023
Deep Casing Tools, a global leader in innovative downhole technology solutions, is proud to announce a significant milestone in its history – the achievement of surpassing £50 million in revenue. This accomplishment highlights the company’s continuous growth, driven by its dedicated team, unwavering client support, and strategic partnerships.
A pivotal moment in Deep Casing Tools growth trajectory was its move to a larger, purpose-built facility in 2022. The move to Westhill workshop has played a crucial role in the company’s success, providing enhanced capabilities and improved efficiencies. With the addition of internal machinery, including advanced turning and milling equipment, as well as the ability to perform torque operations in-house, Deep Casing Tools has been able to meet customer needs more effectively reducing lead times for ongoing operations.
Central to Deep Casing Tools’ ongoing success is its portfolio of innovative technologies, all of which are designed and built at company headquarters in Westhill, Aberdeen. By maintaining complete control over the entire design and manufacturing process, Deep Casing Tools ensures unrivalled quality and design in its technology solutions. Moreover, the company’s commitment to supporting the UK manufacturing sector is evident, with over 95% of components used in its technologies being manufactured locally.
The global impact of Deep Casing Tools’ cutting-edge solutions is another driving force behind its success. With approximately 90% of its technologies exported worldwide, the company has established a strong presence in international markets. The trust and confidence placed in Deep Casing Tools by clients globally is unmistakable with industry recognition of the company’s ability to deliver exceptional downhole technology solutions.
David Stephenson, CEO at Deep Casing Tools said, “I am so proud of what the team at DCT have achieved. Over the last five years we have been contracted long term contracts for our technology in Central America, the Middle East and Asia Pacific, as well as commercialising three new technologies in the UK, Europe and further afield. As we grow, our focus remains on developing and commercialising ground-breaking technologies that make our customer’s operations more predictable and cost effective, while minimising carbon emissions. We are all very excited about the success we have seen and what the future holds.”
Deep Casing Tools’ remarkable financial performance is a testament to its commitment to providing cutting-edge downhole technology solutions. With its strong foundation, a customer-centric approach, and an ongoing focus on innovation, Deep Casing Tools is well-positioned to continue its upward trajectory within the market.