Downhole Surveys

What Downhole Surveys does

IMDEX Limited (ASX:IMD) is a publicly listed Australian mining technology company that provides drilling optimization and rock knowledge solutions to resource companies and drilling contractors globally. Founded in 1980, the company operates across three integrated pillars — Drilling Optimisation, Rock Knowledge, and Software — covering the full drilling lifecycle from site to analysis. The Drilling Optimisation pillar is anchored by the proprietary DeviDrill Directional Core Drilling (DCD) system and REFLEX DOWNHOLE MOTORS, which enable controlled steering of boreholes to reach single or multiple targets on standard N-size wireline drill strings. The Rock Knowledge pillar comprises survey instruments (DeviAligner, DeviGyro, OMNIx BOLT/38/42, EZ-TRAC, TN14 GYROCOMPASS), structural geology systems (ACT III, ACTx, LOGRx), geoscience tools (NOVAx G), and bench characterization (BLASTDOG). The Software pillar spans HUB-IQ (cloud field-data validation), ioGAS (geoscience analytics), aiSIRIS (AI-powered mineralogy), Datarock, EarthNET, Krux, and REFLEX XRF CONNECT.

IMDEX makes money through a mix of equipment sales (directional drilling hardware, survey instruments, solids removal units), consumables (xFORM multifunctional fluids, drilling fluid additives, specialty chemicals), software subscriptions (cloud portals and analytics platforms), and professional services (on-site technical personnel who plan, supervise, and execute directional drilling projects). Pricing is quote-based and consultative with multi-year enterprise contracts; no public price list exists. Distribution runs through direct field sales teams working on-site with resource companies and drilling contractors globally, supplemented by a website enquiry channel, industry events (SEG, Xploration Tech Symposium, IMarc), and the IMDEX Academy LMS for post-sale training. Customers include exploration and production mining companies focused on critical mineral discovery and drilling efficiency, as well as drilling contractors. Named customers in source data are Ballard Mining and Frontline Drilling, both deploying ACTx for core orientation. The company has pursued an active acquisition strategy, completing deals in 2024 for Krux Analytics, Datarock, and Earth Science Analytics, and announcing the acquisition of Advanced Logic Technology and Mount Sopris Instruments.

Note on data consistency: The task header identifies the company as "Downhole Surveys" (private, founded 1989, 11-50 employees, Welshpool), but the detailed source material substantively describes IMDEX Limited (ASX:IMD, founded 1980, public). This analysis is grounded in the substantive evidence, which describes IMDEX; the firmographic profile for "Downhole Surveys" is noted but appears to be a mismatched record.

Name

Downhole Surveys

Legal name

IMDEX Limited

Website

https://downhole.com.au

Company type

Public

Founded year

1980

Operating status

Operating

Headcount range

11–50 employees

Short description

IMDEX Limited (ASX:IMD) is a publicly listed Australian mining technology company providing directional drilling hardware, rock knowledge survey instruments, and analytics software to global mining and drilling contractor customers through direct field sales.

Ownership category

akta.pro rank

Product category

Mining Surveying Equipment and Services

NAICS

Support Activities for Metal Mining (213114), Support Activities for Mining (213), Surveying and Mapping (except Geophysical) Services (541370)

SIC

Mining Machinery & Equip (No Oil & Gas Field Mach & Equip) (3532), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Mine Surveying & Geospatial Services (Survey, Drone/LiDAR, GIS, Grade Control) (IMAKAKAK)

akta.pro secondary industries

Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA), Exploration & Production Drilling Services (RC, Core, Directional, Sonic, Auger) (IMAKAKAB), Drill Tools, Bits & Downhole Equipment (IMAHAMAB)

Keywords

• Mining surveying services
• Directional drilling equipment
• Downhole survey instruments
• Core orientation systems
• Drilling fluid solutions

Headquarters

HQ city

Welshpool

HQ country

Australia

HQ region

Oceania

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Directional Drilling Equipment Sales: Sale of proprietary directional drilling hardware including DeviDrill DCD systems and REFLEX DOWNHOLE MOTORS. These products are sold as equipment solutions to mining and exploration companies.
2. Survey Instruments: Sale of downhole survey instruments including DeviAligner, DeviGyro, OMNIx series, EZ-TRAC, and TN14 GYROCOMPASS for borehole measurement and orientation.
3. Drilling Fluids and Chemicals: Sale of drilling fluid products including xFORM multifunctional fluids, cement/grouting additives, clay/shale stabilisers, fluid-loss control agents, lost circulation materials, and specialty chemicals.
4. Software Subscriptions: Cloud-based and desktop software solutions including HUB-IQ portal, ioGAS, aiSIRIS, EarthNET, Datarock, Krux, and REFLEX XRF CONNECT offered as subscriptions.
5. Field Services and Technical Support: On-site technical services where experienced personnel work with resource companies and drilling contractors to plan, supervise and execute directional drilling requirements.

Pricing tiers

Go-to-market motion3 records

Distribution channels2 records

Marketing channels5 records

Core offering

Downhole Surveys is a mining company that provides surveying rental equipment and services to resource companies and drilling contractors. Offerings span directional drilling systems (DeviDrill DCD, REFLEX Downhole Motors), downhole survey instruments (DeviAligner, DeviGyro, OMNIx series, EZ-TRAC, TN14 GYROCOMPASS), core orientation systems (ACTx, ACT III, LOGRx), drilling fluids (xFORM) and solids removal units, plus an integrated software stack (HUB-IQ, ioGAS, aiSIRIS, EarthNET, Datarock, Krux, REFLEX XRF CONNECT) for field data validation and geoscience analysis.

Product overview

IMDEX (ASX:IMD) operates as a platform company comprising three integrated pillars — Drilling Optimisation, Rock Knowledge, and Software — covering the full drilling lifecycle from site to analysis. The Drilling Optimisation pillar is anchored by the DeviDrill™ Directional Core Drilling (DCD) system and REFLEX DOWNHOLE MOTORS™, which enable controlled directional drilling to reach single or multiple targets. The Rock Knowledge pillar includes a suite of survey tools (DeviAligner™, DeviGyro™, OMNIx™BOLT, OMNIx™38, OMNIx™42, EZ-TRAC™, TN14 GYROCOMPASS™), structural geology systems (ACT III™, ACTx™, LOGRx™), geoscience tools (NOVAx™G), and bench characterisation systems (BLASTDOG™). The Software pillar encompasses HUB-IQ™ (cloud-based field data validation portal), ioGAS™ (geoscience data pattern detection), aiSIRIS™ (AI mineralogy), Datarock (digital rock imaging), EarthNET (cloud earth science platform), Krux (drill site analytics), and REFLEX XRF CONNECT™ (XRF data connectivity). Supporting the Drilling Optimisation pillar are xFORM™ multifunctional drilling fluids and solids removal units (IMD-M100-TT SRU™, 500 R, 2000 M, IMD-1500-R, IMD-500-SC, Ultra Lightweight SRU).

Differentiator

Problem solved

Functional benefit

Brands

• DeviDrill™: Directional Core Drilling (DCD) system for steering drillholes in controlled direction
• REFLEX DOWNHOLE MOTORS™
• xFORM™
• ACTx™
• BLASTDOG™
• DeviAligner™
• DeviGyro™
• OMNIx™
• EZ-TRAC™
• TN14 GYROCOMPASS™
• HUB-IQ™
• ioGAS™
• NOVAx™G
• LOGRx™
• aiSIRIS™
• EarthNET
• REFLEX XRF CONNECT™
• Datarock
• Krux
• IMD-M100-TT SRU™
• IMDEX Academy

Products and services

• DeviDrill™

Quantifiable outcome

• Reduced operational time
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Boart Longyear: Global drilling services and equipment OEM that offers in-house directional drilling and survey tooling; competes with the survey instrument line at the integrated-drilling-contractor level and has substantially broader scale.
• Epiroc: Major mining and infrastructure OEM whose Rock Drilling Tools division sells drilling equipment and integrated MWD/survey solutions; competes with survey instruments as part of a much broader rock-drilling portfolio.
• Sandvik Mining and Rock Solutions: Large mining OEM with a drilling solutions portfolio that includes rotary and DTH bits plus downhole tooling; overlapping customer base with mining exploration and production drilling contractors.
• Renishaw (mining products): Precision engineering company supplying in-hole and surface measurement systems used in mining and exploration; technically credible in downhole positioning and adjacent to Downhole Surveys' precision-survey niche.

Emerging players

• IDS GeoRadar: Provider of interferometric radar and downhole monitoring instruments for mining and geotechnical applications — adjacent subsurface-measurement technology competing for the same accuracy/data-quality budgets.
• Fordia: Canadian drilling tools and equipment supplier for mineral exploration; comparable scale and customer overlap in the exploration drilling contractor market where Downhole Surveys' survey instruments are deployed.
• Veracio: Boart Longyear spin-out focused on digital geological data and core orientation/scanning tools; competes directly with ACTx™-style structural geology and core orientation workflows that complement Downhole Surveys' instrumentation.

Direct peers

• Reflex Instruments (IMDEX subsidiary): Sister IMDEX brand offering downhole survey and orientation tools; nearly identical product family (gyros, core orientation, structural logging) and the closest comparable for survey-instrument economics within the same parent group.
• Mount Sopris Instruments (IMDEX subsidiary): Recently acquired IMDEX subsidiary manufacturing downhole logging and survey probes for mining, hydrogeology and geotechnical applications — direct overlap with Downhole Surveys' downhole survey instrument line.
• Advanced Logic Technology (IMDEX subsidiary): IMDEX subsidiary specialising in borehole survey instruments and software for the mining industry; another in-group peer competing for the same survey-instrument use cases.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Downhole Surveys