Superior Drilling Products, Inc. Announces New Agreement with Baker Hughes Oilfield Operations

April 5, 2018

VERNAL, Utah–(BUSINESS WIRE)–Superior Drilling Products, Inc. (NYSE American:SDPI) (“SDP” or the
“Company”), a designer and manufacturer of drilling tool technologies,
announced today that it has entered into a new, 4-year vendor agreement
with Baker Hughes Oilfield Operations, LLC, (“BH”) to provide exclusive
drill bit refurbishment services.

Troy Meier, Chairman and CEO of Superior Drilling Products, noted, "We
have had a long-time relationship with Baker Hughes and are excited
about this mutually beneficial agreement that extends our services for
them. We believe the expansion of the market we serve and the minimum
volume requirement provided by the new agreement were the result of our
quality work, responsive service and consistency over many years. We
appreciate Baker Hughes as a customer and look forward to continuing to
serve them well, both as part of this agreement and with our other
drilling tool technologies.”

Under the terms of the agreement, SDP will now serve an expanded market
throughout the U.S., receive a base minimum volume in drill bit
refurbishment and continue to provide its drill bit refurbishment
services for BH exclusively. The agreement allows for modifications in
the event of market deterioration and either party has the right to
cancel the agreement with 6-months’ notice.

About Superior Drilling Products, Inc.

Superior Drilling Products, Inc. is an innovative, cutting-edge drilling
tool technology company providing cost saving solutions that drive
production efficiencies for the oil and natural gas drilling industry.
The Company designs, manufactures, repairs and sells drilling tools. SDP
drilling solutions include the patented Drill-N-Ream® well
bore conditioning tool and the patented StriderTM oscillation
system technology. In addition, SDP is a manufacturer and refurbisher of
PDC (polycrystalline diamond compact) drill bits for a leading oil field
service company. SDP operates a state-of-the-art drill tool fabrication
facility, where it manufactures its solutions for the drilling industry,
as well as customers’ custom products. The Company’s strategy for growth
is to leverage its expertise in drill tool technology and innovative,
precision machining in order to broaden its product offerings and
solutions for the oil and gas industry. Additional information about the
Company can be found at: www.sdpi.com.

Safe Harbor Regarding Forward Looking Statements

This news release contains forward-looking statements and information
that are subject to a number of risks and uncertainties, many of which
are beyond our control. All statements, other than statements of
historical fact included in this release, regarding our strategy, future
operations, financial position, estimated revenue and losses, projected
costs, prospects, plans and objectives of management, are
forward-looking statements. The use of words “could,” “believe,”
“anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,”
“predict,” “potential,” “project”, “forecast,” “should” or “plan, and
similar expressions are intended to identify forward-looking statements,
although not all forward -looking statements contain such identifying
words. Certain statements in this release may constitute forward-looking
statements, including statements regarding the Company’s financial
position, market success with specialized tools, effectiveness of its
sales efforts, success at developing future tools, and the Company’s
effectiveness at executing its business strategy and plans. These
statements reflect the beliefs and expectations of the Company and are
subject to risks and uncertainties that may cause actual results to
differ materially. These risks and uncertainties include, among other
factors, our business strategy and prospects for growth; our cash flows
and liquidity; our financial strategy, budget, projections and operating
results; the amount, nature and timing of capital expenditures; the
availability and terms of capital; competition and government
regulations; and general economic conditions. These and other factors
could adversely affect the outcome and financial effects of the
Company’s plans and described herein.