STYR Directional Core Drilling

What STYR Directional Core Drilling does

STYR Directional Core Drilling is a Chile-based directional core drilling services company founded in 2013, headquartered in Las Condes, Santiago, and operating as part of the Devico/IMDEX global directional drilling network following IMDEX's $334 million acquisition of Devico in February 2023. The company specialises in precision directional core drilling for mineral exploration, providing services that enable mining clients to reach single or multiple subsurface targets accurately from a single borehole using the DeviDrill Directional Core Drilling (DCD) system, REFLEX downhole motors, and complementary survey and core orientation tools (ACTx, OMNIx, DeviGyro, LOGRx).

STYR operates within IMDEX's integrated subsurface intelligence ecosystem, which combines directional drilling hardware, downhole sensors, drilling fluids, and cloud-connected software platforms (HUB-IQ, ioGAS, aiSIRIS, Datarock, Krux). The group sells to mineral exploration companies, production mining operations, and drilling contractors through a direct enterprise field-sales motion supported by on-site technical specialists in 70% of major international mining regions, with project-based managed services (IMDEX Managed Services) providing single-source vendor coverage for downhole navigation, fluids, orientation tools, and equipment management.

Revenue is generated through a mix of hardware sales, subscription/recurring cloud software, and project-based professional services for directional drilling execution. The group's pricing is negotiated directly with enterprise customers on a project and contract basis with no public pricing; long-tail customer concentration is moderate, spanning majors (Anglo American, PT Freeport) and mid-market drilling contractors across multiple commodities and geographies.

Name

STYR Directional Core Drilling

Legal name

IMDEX Limited

Website

https://styr.cl

Company type

Public

Founded year

1980

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Directional Core Drilling Services

NAICS

Support Activities for Metal Mining (213114), Support Activities for Mining (2131), Support Activities for Mining (21311)

SIC

Drilling Oil & Gas Wells (1381), Heavy Construction Other Than Bldg Const - Contractors (1600)

akta.pro primary industry

Exploration & Production Drilling Services (RC, Core, Directional, Sonic, Auger) (IMAKAKAB)

Keywords

• Directional core drilling
• Mineral exploration drilling
• Borehole surveying services
• Diamond drilling services
• Mining drilling contractor

Headquarters

HQ city

Balcatta, Perth

HQ country

Australia

HQ region

Oceania

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Mining Technology Products and Services: Revenue from sale and service of directional drilling systems (DeviDrill, REFLEX downhole motors), survey tools (OMNIx, DeviGyro), core orientation systems (ACTx), and drilling fluids. FY2023 revenue of $411.4 million with 20.3% year-over-year growth.
2. Software Subscriptions and Cloud Services: Revenue from cloud-connected software platforms including HUB-IQ for data validation and management, ioGAS for geoscience data analysis, aiSIRIS for spectral mineralogy, and Datarock for core imagery analysis. 106 million metres were surveyed in HUB-IQ, representing 31% increase.
3. Managed Services: IMDEX Managed Services (IMS) providing single-source vendor coverage for downhole navigation, fluids, orientation tools, and equipment management for drilling programs.
4. Directional Drilling Services: Expert personnel services including planning, supervising and executing directional drilling requirements on client projects, with teams of highly experienced personnel working with resource companies and drilling contractors.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

STYR Directional Core Drilling provides directional core drilling services for the mineral exploration and mining industry, enabling mining clients to steer boreholes accurately to reach single or multiple targets from the same drill pad while collecting core samples. The company plans, supervises, and executes directional drilling programs on site for resource companies and drilling contractors, helping reduce the number of drill pads, total metres drilled, and environmental impact of exploration campaigns.

Product overview

IMDEX offers a comprehensive suite of mining technology solutions organized across five interconnected pillars: Drilling Optimisation (directional drilling, drilling fluids, solids removal units), Rock Knowledge (bench characterisation, geoscience, structural geology, survey tools), Software (cloud-based data management, analytics, mineralogy), Industry Solutions (exploration, production mining), and Managed Services. The directional core drilling portfolio centers on DeviDrill Directional Core Drilling (DCD) and REFLEX DOWNHOLE MOTORS, complemented by ACTx digital core orientation and LOGRx handheld structural measurement devices. Survey capabilities include OMNIx38/42 gyros, DeviGyro, DeviAligner, OMNIxBOLT, EZ-TRAC, and TN14 GYROCOMPASS. Software solutions include HUB-IQ cloud portal, ioGAS geoscience analytics, aiSIRIS automated mineralogy, Datarock imagery analysis, Krux analytics platform, and EarthNET data management. Drilling fluids encompass xFORM multifunctional fluids and AMC additive product lines. The architecture is modular, allowing customers to select individual tools or integrated solutions with HUB-IQ providing central data connectivity across the product ecosystem.

Differentiator

Problem solved

Functional benefit

Brands

• DeviDrill: Directional Core Drilling (DCD) system for steering boreholes accurately to single or multiple targets while collecting core samples
• REFLEX DOWNHOLE MOTORS
• xFORM
• ACTx
• BLASTDOG
• LOGRx
• OMNIx
• DeviGyro
• HUB-IQ
• ioGAS
• aiSIRIS
• Krux
• AMC
• Datarock
• WellCAD

Products and services

• Directional Core Drilling Services
• DeviDrill Directional Core Drilling (DCD) System

Quantifiable outcome

• 95% core orientation success rate with ACTx
• +11 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability8 records

Feature9 records

Partnerships

Six partnerships are on record, tiered flagship, core and strategic.

• Advanced Logic Technology (ALT)flagshipStrategic or Co-development Partner · 1 December 2025IMDEX announced acquisition of 100% of Advanced Logic Technology and its subsidiary Mount Sopris Instruments. ALT is the global leader in high-performance downhole rock property sensor systems and WellCAD software serving over 500 clients in 120+ countries. Acquisition will broaden IMDEX's sensor portfolio with optical and acoustic televiewers and rock property sensors, integrate WellCAD into IMDEX digital solutions for a unified platform.
• Mount Sopris Instruments (MSI)flagshipStrategic or Co-development Partner · 1 December 2025Subsidiary of ALT being acquired by IMDEX. MSI, based in Denver Colorado, is a leading US manufacturer and distributor of geophysical equipment and software for subsurface investigations including slimline geophysical logging systems, rugged winches, and advanced data acquisition units deployed in over 120 countries.
• DevicoflagshipStrategic or Co-development Partner · 1 February 2023IMDEX acquired Devico for $334 million in February 2023. Devico is the number one global provider of directional drilling services in mineral exploration and number two in borehole surveying. The acquisition included 21 companies in 15 countries with approximately 200 employees. Devico management team reinvested proceeds into IMDEX shares, retaining key personnel.
• Krux AnalyticscoreStrategic or Co-development Partner · 1 January 2023IMDEX took 40% investment in drilling analytics software company Krux Analytics. Krux provides cloud-based drilling data management with KruxLog and KruxMetrix solutions for streamlining data entry, real-time analytics, and project management for drilling contractors.
• DatarockcoreStrategic or Co-development Partner · 1 January 2022IMDEX increased stake in geoscience image analysis company Datarock to majority ownership. Datarock provides photogeochemistry and core imagery analysis that combines with ioGAS for multivariate data analysis. $5.5m acquisition to accelerate digital earth knowledge expansion.
• AROSE (Australian Remote Operations for Space and Earth)strategicStrategic or Co-development Partner · 3 December 2021IMDEX is sponsoring development of an Australian-made lunar rover project for NASA. IMDEX is contributing its BLASTDOG technology expertise and semi-autonomous carrier experience to the AROSE consortium working on lunar rover feasibility. The project aims to leverage autonomous technology from mining for space applications. Federal Government announced up to $50M under Trailblazer program for the lunar rover.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• GEODRILL: Mineral exploration drilling contractor focused on West Africa and the Americas. Comparable service offering (diamond drilling, RC) for gold and base metals exploration; competes in similar mining-major customer segment.
• Boart Longyear: Global leader in mineral exploration drilling services and drilling products. Comparable to STYR through its drilling services division serving copper, gold, and other metal exploration — overlapping in target customers (majors and juniors) and directional/core drilling capabilities.
• Major Drilling Group International: One of the world's largest mineral exploration drilling contractors operating ~700+ rigs globally. Comparable to STYR in core service line (diamond/core drilling for exploration), with similar mining-major customers but at vastly larger scale.
• Foraco International: Mineral exploration and geotechnical drilling contractor with strong presence in the Americas and Africa. Comparable to STYR as a contract drilling services provider to mining companies; however Foraco operates at significantly larger scale with ~300 rigs.
• Scientific Drilling International: Provider of directional drilling services and downhole survey tools primarily for oil & gas, but with expanding mining applications. Comparable in directional drilling technology and gyro/MWD survey tool offerings that overlap with STYR/Devico's OMNIx and DeviGyro.
• Devico Group (IMDEX subsidiary): The global #1 in directional core drilling services for mineral exploration, acquired by IMDEX in Feb 2023 for $334M. STYR appears to operate within or alongside the Devico network of 21 companies in 15 countries, making it the closest direct comparable in services, technology (DeviDrill), and target customers.

Broad incumbents

• Epiroc: Major mining and infrastructure equipment manufacturer (drilling rigs, rock excavation, automation). Comparable through overlapping mining drilling customer base and technology, but operates as a broad equipment OEM rather than a service contractor.
• Sandvik Mining and Rock Solutions: Global mining equipment and tools supplier including drill rigs and consumables. Adjacent comparable through overlapping mining exploration customer base and directional drilling tooling ecosystems.
• Atlas Copco (Mining & Rock Excavation): Global mining equipment manufacturer including drilling rigs and consumables. Comparable as a supplier of drilling equipment to exploration and mining operations, but operates as a broad industrial incumbent rather than a specialty directional drilling contractor.

Regional players

• Layne Christensen (now part of Intrepid): Former mineral and water drilling services provider in the Americas. Comparable in legacy drilling services orientation, though now operating primarily in water resources and potash — historically competed with STYR for mining drilling contracts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights5 records

Customer concentration

• YouTubeyoutube.com/playlist?list=PLvwDZyV9sKxMip_5xmaqvpqccwohZmB2o
• LinkedInlinkedin.com/company/styr-directional-core-drilling

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries7 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 STYR Directional Core Drilling