Oklahoma drill bit firm rebrands for shale expansion plans

By Luke Geiver | October 10, 2018

After acquiring a majority stake in Oklahoma-based drill bit provider PDC Logic, private equity firm Intervale Capital has brought in new leadership and instituted a rebranding effort. PDC Logic has changed its name to Taurex Drill Bits LLC. Warren Dyer, an oil industry veteran, has been named CEO and President of the rebranded company.

Taurex has built a network of service locations in several U.S. shale basins, including the Permian, Mid-Continent, Eagle Ford, Bakken and DJ Basin.

Under the leadership of Dyer, the company has expanded into the Appalachian Basin, the Haynesvile and even the Western Canadian Sedimentary Basin. Next year the company will unveil a new line of steel bits and other work on material science.

“The rebrand, including the name change to Taurex Drill Bits, is representative of the transformational initiatives the company has been successfully executing throughout 2018,” Dyer said.

The drill bit company has been in operation for 60 years.

Intervale Capital previously invested in Fort Worth, Texas-based Ulterra Drilling Technologies. In addition to its current investment in Taurex, Intervale is also invested into roughly 15 other energy or oil and gas ventures.