FII Stake Increases: Oil & Gas Equipment Company Secures New Order From Shivganga Drillers

On Friday, Indian equity benchmarks ended lower, with the benchmark Nifty 50 index declining 0.21 per cent to close at 23,366.70. Despite the weak market sentiment, United Drilling Tools (UDTL) share price gained 0.53 per cent to close at Rs 249.51 after the company announced a new domestic order from Shivganga Drillers.

UDTL Secures Order For Stabilisers

United Drilling Tools informed the stock exchanges that it has received a domestic order worth Rs 16.61 lakh from Shivganga Drillers Limited for the supply of different types of stabilisers used in oil and gas drilling operations.

The order marks the first engagement between the two companies for these products and is expected to serve as a performance and quality evaluation under field operating conditions.

According to the company, the stabilisers play a critical role in maintaining wellbore stability and improving drilling efficiency during oil and gas exploration and production activities.

Execution Expected Within Two Months

UDTL stated that the order is expected to be executed within one to two months, in accordance with Shivganga Drillers' technical specifications and quality requirements.

The company views the contract as an opportunity to demonstrate the engineering capabilities, reliability and operational performance of its stabiliser product portfolio.

Management noted that similar stabilisers have previously been supplied to private-sector customers as well as government public sector undertakings (PSUs), where the products have demonstrated consistent performance in demanding operating environments.

Management Commentary

Commenting on the development, Govind Sharma, GM – Global Sales and Marketing, stated that the company is pleased to receive the order from Shivganga Drillers and remains confident that its stabilisers will meet customer expectations. The company highlighted that its products are manufactured through stringent engineering standards and quality-control processes aligned with the requirements of the oil and gas industry.

About United Drilling Tools

Incorporated in 1985, United Drilling Tools Limited (UDTL) is engaged in the manufacturing of oil drilling tools and equipment. The company designs and manufactures wireline and well-service equipment, gas-lift systems, downhole tools and large outer-diameter casing connectors built to ISO and API standards.

UDTL operates manufacturing facilities in Uttar Pradesh and Gujarat and, along with its wholly owned subsidiary, runs six manufacturing units. The company serves customers across India and exports its products to more than 12 countries.

The latest order adds to UDTL's domestic order pipeline and reflects its continued focus on expanding its presence across the oil and gas equipment segment through engineering-driven solutions and timely execution.

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Disclaimer: The article is for informational purposes only and not investment advice.