ROC Energy Acquisition Corp.
ROCAU
NASDAQ Global Market6.03
USD
-1.78
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ROC Energy Acquisition Corp.
ROCAU
(NASDAQ Global Market)
Recent
price
6.03
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- ROC Energy Acquisition Corp. (ROCAU) operates as a blank check company whose shares now represent Drilling Tools International Corp., following a reverse merger transaction completed in June 2023; the combined entity provides downhole tool rentals, manufacturing, machining, inspection and repair services; directional drilling tools including stabilizers, drill collars, pony collars, crossover subs, reamers, shock tools, sub-assemblies and drilling accessories; wellbore conditioning systems such as the patented Drill-N-Ream; drill pipe, heavy-weight drill pipe, kellys, pup joints, work strings, blowout preventers and production tubing rentals; and the innovative RotoSteer system for extended-reach horizontal drilling. Founded in 2021 and originally headquartered in Dallas, Texas, the company focused on pursuing mergers, share exchanges, asset acquisitions or similar business combinations with businesses in the non-operated upstream oil and gas sector in the United States prior to its combination with Drilling Tools International, which traces origins to 1984 and is headquartered in Houston, Texas. It serves directional and horizontal drilling operators, oilfield services companies, and exploration and production firms in land and offshore markets across North America, Europe, the Middle East, North Sea, and Africa. In June 2023, ROC Energy Acquisition Corp. completed its business combination with Drilling Tools International Holdings, Inc. via a reverse merger valued at approximately $319 million, resulting in a name change to Drilling Tools International Corp., a Nasdaq ticker change to DTI for common shares, and listing under the new identity as a public oilfield services provider; the transaction included over $209 million from ROC's trust and a $45 million PIPE financing, with DTI shareholders reinvesting over 95% of their equity. Most recently, on January 2, 2025, Drilling Tools International completed the acquisition of Titan Tools Services Ltd., a UK-based downhole tool rental company announced in October 2024, to expand its presence in North Sea, European, and African markets. The company maintains operations through multiple U.S. locations including Texas, Louisiana, Oklahoma, Pennsylvania, North Dakota, New Mexico, Utah, Wyoming, and California, alongside international expansion.