Houston-Based Directional Drilling Firm SDI Reportedly Seeking Buyer

Scientific Drilling International (SDI), the U.S. oil industry’s largest independent directional drilling firm, is being offered to potential buyers at a valuation of more than $500 million, sources familiar with the matter said this week.

The sale process for the Houston-based company, owned by the van Steenwyk family for over three decades according to the company’s website, began recently, said three sources who spoke on condition of anonymity as the information has not been made public.

Both strategic buyers and financial sponsors have been invited to bid for the firm, noted two of the sources, adding that energy-focused investment bank Tudor Pickering & Holt & Co. was advising SDI on the process.