Dailey International Inc. - DALY- Profile

Dailey International Inc. provides speciality drilling services and downhole tools to the oil and gas industry. The downhole products and services segment provides downhole tools for rental, directional drilling services, electric wireline and tubing conveyed perforating services and tubular testing services. The underbalanced drilling segment provides air drilling services and underbalanced drilling equipment packages. During 1998 the company acquired International Nitrogen Services, LLC., Transocean Petroleum Technology Limited, Integrated Drilling Services Limited, Directional Wireline Services, Inc., DAMCO Services, Inc. and DAMCO Tong Services, Inc. The company operates in United States, Canada, Europe, West Africa, Latin America, Middle East and Southeast Asia. To date the company has expensed $39,000 relating to Year 2000 issue. Downhole products and services accounted for 75% of 1998 revenues and underbalanced drilling, 25%.