2025-05-02 10:01:07
Latest Post
Godrej Agrovet Limited consolidated Q4FY25 net profit drops QoQ to Rs. 70.78 crores
L G Balakrishnan & Bros Ltd posts Rs. 84.03 crores consolidated profit in Q4FY25
Swastika Investmart Ltd Q4 FY2025 consolidated profit slumps to Rs. 27.17 lakhs
Vertex Securities Ltd consolidated Q4 FY25 loss at Rs. 53.99 lakhs
The Federal Bank Limited consolidated Q4FY25 PAT jumps to Rs. 1108.31 crores
Stock Report
United Drilling Tools Limited - Exposure to International Market
Posted On : 2022-03-11 14:29:16( TIMEZONE : IST )
United Drilling Tools Ltd. (UDTL) (BSE - 522014, NSE - UNIDT) has announced that it has appointed a reputed Marketing Associates and Representatives to promote the product portfolio for oil exploration and completion equipments in Kuwait & United Arab Emirates (UAE).
This representation will open opportunities for UDTL to expand it market base in
1. Kuwait, where major state E&P company KOC, Kuwait Oil Company has a strong presence. We undertsand that about 2000 no of wells are underplanning for next 5 years & KOC is drilling almost 400 new wells every year.
2. United Arab Emirates (UAE) : The Abu Dhabi National Oil Company or ADNOC is the state-owned oil company of the United Arab Emirates. It is the world's 12' largest oil company by production. As of 2021, the company has an oil production capacity exceeding 4 million bpd with plans to increase to 5 million bpd by 2030. ADNOC is the largest drilling company in the Middle East, and has drilled more than 6,200 wells. Adnoc has total 99 number of operational rigs & total well delivered is 10,000. The target is for another 1000 wells by 2030.
The market size for our range of products is about 250 Cr per annum in Kuwait & 200 Cr per annum in UAE. Thus, we have a strong chance of increasing our market share & profitability from these markets.
We are also pleased to inform that in 2021, we have registered ourself with major global service providers such as Halliburton, Schlumberger, Baker Hughes. This registration has facilitated us to get enquiries across their global offices. Within short span of our registration, we have received some good number of development orders & executed. More enquiries from these global companies are in pipeline which will result in good size of order book for us.
Shares of United Drilling Tools Limited was last trading in BSE at Rs. 479.10 as compared to the previous close of Rs. 496.10. The total number of shares traded during the day was 6407 in over 623 trades.
The stock hit an intraday high of Rs. 508.50 and intraday low of 476.35. The net turnover during the day was Rs. 3134379.00.
