Grant Prideco develops, sells and services drill stems and drill bits. The company is also a provider of engineered connections and tubular products and services. Its drill stem and drill bit products are used to drill oil and gas wells, while its tubular technology and services are primarily used in drilling and completing oil and gas wells. Customers include drilling contractors, North American oil country tubular goods distributors, oil companies and other oilfield service companies. Grant Prideco operates through three business segments that consist of drilling products and services, drill bits, and tubular technology and services. During the year ended Dec. 31, 2004, the company's former marine products and services business segment was absorbed by the tubular technology and services segment. Grant Prideco maintains a location in Beaumont, Texas.