Deep Casing Tools, an Aberdeen, UK-based company that has developed an innovative range of tools for use in the oil and gas industry, received £2.1m in financing from the Scottish Loan Fund.
The company intends to use the funds to grow operations in the Middle East and US.
Led by CEO Lance Davis, Deep Casing Tools has developed drill-through technology and tools that are designed to enable casing and completions to be landed first time at target depth within an oil or gas well.
The company provides:
– the Turbocaser™ Express, a high-speed drillable reaming system
– the Turborunner™, a high-speed reaming system
– the Shalerunner™, a high-speed turbine powered reaming system
– Turboblade™ centralizers, which deliver hole cleaning.
The Scottish Loan Fund (SLF) is managed by Maven Capital Partners.