Knight Oil Tools Monday announced the acquisition of Tri-State Tools & Inspection based in Corpus Christi, Texas. Terms of the deal were not disclosed.
Tri-State Tools & Inspection provides stabilizers and non-destructive testing for drill pipe and bottomhole assembly components. The company operates throughout the South Texas and West Texas drilling markets via facilities in Corpus Christi and Odessa.
“The acquisition of Tri-State Tools & Inspection expands our Tri-Drill Services business unit inspection operations into new markets in Texas,” Knight Oil Tools President Mark Knight said in announcing the deal. “And the addition of stabilizers now gives Knight Oil Tools’ Rental Tool Services business unit the entire bottomhole assembly, except for the drill bit.”
Knight Oil Tools, which has been in business for four decades, operates from more than 50 locations across 10 oil-producing states and internationally, serving all phases of a well’s lifecycle from exploration to abandonment.
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A look at recent hirings, promotions and other announcements from Acadiana's business community.