Ulterra Drilling Technologies is based in the heart of downtown Fort Worth which is considered one of the fastest growing cities in the United States. Fort Worth has continued to grow within the last two years making it 7th in U.S. population growth leaving tons of room for economic development. There are many big name companies that call Fort Worth home like Ulterra.
With Fort Worth being centrally located between DFW Airport and Alliance Airport, it makes international business on logistics for local businesses a lot easier. There are currently 56 international flights out of DFW every day making it convenient for business leaders to have better access to international markets. Alliance airport is the only international commercial airport in the area which opens the door for quicker import and export practices.
It’s predicted by the next census date that Fort Worth will become the 12th largest city in the United States. As Fort Worth’s population grows it’s vital that business in domestic and international markets continue to rise and create job opportunities to support the increase in population. A luncheon was organized by the Fort Worth Chamber of Commerce to discuss how companies in the Fort Worth area are contributing to the success of international business and making Fort Worth an international business hub. The Mayor of Fort Worth, Betsy Price looked to Ulterra to sit among other key players in select industries to discuss the potential for Fort Worth to become an international hub of innovation. Mayor Betsy Price remarked “Ulterra represents both Fort Worth’s history in energy and our future in technology.”
Ulterra was called on by the Fort Worth Chamber of Commerce to discuss their experience in doing business not only on a domestic level but also in international markets. The Chambers main business function is to recruit and retain business, provide a skilled and educated workforce and provide resources for business owners and employees. Mayor Betsy Price talked about the importance of making Fort Worth a destination for global business development, attraction and retention. Fort Worth has a very diverse workforce and many have chosen to operate their corporate headquarters in the heart of it, such as BNSF Railways, Pier1imports, American Airlines and Ulterra Drilling Technologies. “We are much more than just the aviation, defense and energy industry. We are a very multicultural and multinational city with major corporations with huge international presences,” said Mayor Betsy Price.
Ulterra’s CFO Maria Mejia was among a few selected to join Mayor Betsy Price along with Raanan Horowitz, President and CEO of Elbit Systems of America and Phil White, Co-Founder of Cervelo Cycles for the annual international luncheon. Maria sat on a panel in front of 250 plus attendees and took a deeper dive into the success stories of companies with an international presence that are local to Fort Worth. The Chamber looked to Ulterra to gain insight on how to successfully attract international business and retain healthy business relationships in international markets. Ulterra is currently the leading PDC Bit Company in the United States having the most market share driven from innovation, solid work ethic and the resilience to win.
Many of the attendees at the luncheon were top players in their industries looking to gain insight on how to drive their business’s into international markets. The goal is to make Fort Worth a more attractive place to do business on an international level. Fort Worth has a cross-industry workforce and is full diverse cultures, businesses, and lifestyles making it an attractive place to not only live but also to do business in. “International employees, partners and customers appreciate visiting our facilities in Fort Worth. Hosting international oil and gas conferences such as the SPE (Society of Petroleum Engineers) and the IADC (International Association of Drilling Contractors) allows us to showcase our home turf to the entire industry,” Said Maria Mejia, Senior Vice President and CFO of Ulterra Drilling Technologies.
Maria continued talking about some of the obstacles as well as the triumphs Ulterra has faced going into new markets beyond the United States. “When expanding globally it can be hard to replicate Ulterra’s culture. Our business model requires a deep understanding of the customer, their needs and the culture in which they operate. We have to prove that we are able to deliver value internationally just as much as we can deliver locally,” says Mejia. Understanding international markets and how they differ is a key to gaining market share internationally. There are times when consumer education has to be put into play just to market your products in other countries, it’s all about the hierarchy of effects when it comes to selling in international markets.
The Mayor touched on key initiatives that have the potential to make Fort Worth stand out in DFW as its own entity. Idealistically the larger business community could come together to better define Fort Worth’s commercial brand both to attract like-minded businesses and startups and to help them market themselves by association. Having stronger business relationships within the Fort Worth area could make international business ventures more collaborative and less daunting. The Chamber strives to develop country targets for new businesses based on current industry clusters, skill set and local relationships. “I was very intrigued by the Mayor’s determination to bring more international business ventures to the Fort Worth area. As Fort Worth gains more recognition good things will happen for the people and businesses in our area,” Says Angela Schlemmer, Vice President of Tax and Treasury of Ulterra Drilling Technologies.
Ulterra is recognized for its unique culture, which consists of doing things better and faster. International success depends on the ability of a company to meet the demands of the customer and being able to efficiently adapt to the changing needs of customers across borders. The future of international business depends on being competitive on a global scale, this means Ulterra would have to continue dominating in the U.S. and continue gaining new market share through technological advancements and innovation in the oil and gas industry as a whole. For customers to adopt new companies and products in international markets you have to adapt to the culture of purchasing in those areas. “It’s a combination of relationship selling, technical ability, know-how, backup, and support function. It’s normally something cool and established that people can latch onto like our CounterForce® technology,” Says Chris Gooch, Application Engineering Manager of Ulterra Drilling Technologies
In the oil and gas industry, Ulterra is known for its speed, quality, technology, and trustworthy business acumen. This has led to Ulterra achieving better business relationships internationally as well as in the U.S. Being a successful entity in international marketplaces is not an overnight process. Ulterra takes the time to assess cultural differences and align them through technology and innovation all while delivering what the customer needs and keeping Ulterra’s competitive advantage, which begins with their speed of delivery. Ulterra started in the U.S. with the belief of becoming viable and is now thriving in the most competitive market on the planet making them the fastest growing drill bit company in the world.