[Context: On October 10, Intervale Capital-backed PDC Logic changed its name to Taurex Drill Bits. Further details and related links are below.]
Provider of world-class PDC and roller cone drilling and completion bits rebrands as part of aggressive strategic growth plan
NORMAN, Okla., Oct. 10, 2018 /PRNewswire/ — PDC Logic LLC, an industry leader in high-performance drilling and completion bits, has gone through a major rebrand, including a new name. Today, the company announces that PDC Logic is now Taurex Drill Bits, LLC. The change comes on the heels of ownership and management changes that have led to expanded growth initiatives for the company, which has strong roots in the oil and gas industry spanning more than six decades.
In early 2018, Intervale Capital, a leading private equity firm in the oilfield manufacturing and services space, acquired a majority stake in PDC Logic. In April 2018, the company named respected industry veteran, Warren Dyer, as President and Chief Executive Officer.
Taurex currently has established U.S. service locations in the Permian, Mid-Continent, Eagle Ford, Bakken, and Rocky Mountain Basins. Additionally, the company recently entered the Appalachian Basin, and further expansion into the Haynesville and Western Canada Sedimentary Basins is planned for early 2019. Taurex is also introducing its next-generation suite of drill bits adopting the latest material science and cutter technologies, including a proprietary line of Steel PDC bits.
In addition to a new company name, the rebrand includes a new bull-themed logo, messaging, brand positioning, color scheme, website, video, and tagline – Run with the Bull.
“The rebrand, including the name change to Taurex Drill Bits, is representative of the transformational initiatives the company has been successfully executing throughout 2018,” said Dyer. “The hard work by the team is already paying off, resulting in near daily record-setting runs in key basins. We are well positioned for accelerated growth going into 2019 and beyond as we continue to invest in people, technology, and product-line expansion with the support of Intervale.”
About Taurex Drill Bits – Headquartered in Norman, Oklahoma, Taurex Drill Bits designs, manufactures, rents, and sells matrix polycrystalline diamond compact (PDC) bits and roller cone bits, used in drilling and completion operations. Taurex’s bits are engineered for application-specific requirements, utilizing state-of-the-art deep leached cutters and cutter designs to produce the highest-performing bits for any environment. The company has nine offices across the U.S., supporting customers in all active oil and gas producing basins.