Except when it's done with multiple piercing punches pushed out of a canister lowered down the hole. Probably depends on what industry niche and pipe size you are dealing with. Piercing punches are common in some areas.Pretty sure perfing is done with shaped charge explosives.
the cabinet was mostly full of carbide drills (Yay!) and lathe tool holder clamps and screws. There was also some new kennametal cat50 shrink fit holders.Lots more useful things are reduced to scrap.
Would be helpful to know where you found it. Did the cabinet serve as tool storage for a specific machine?
That coming from Halliburton/Otis/Guiberson, It could have been a part of a R & D project that was killed and the leftovers sprouted legs and wound up in the cabinet over time. Again, people asking what is this? Shoved back in the cabinet left for the next person to figure out. Just like it is being asked again here.