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Thursday, July 5, 2012
Release–Knight Oil Tools Acquires Tri-State Tools & Inspection
LAFAYETTE, La.–(BUSINESS WIRE)–Knight Oil Tools today announced the acquisition of Tri-State Tools & Inspection, LLC, headquartered 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 and West Texas drilling markets through facilities in Corpus Christi and Odessa.
According to Mark Knight, President of Knight Oil Tools, “The acquisition of Tri-State Tools & Inspection expands our Tri-Drill Services business unit inspection operations into new markets in Texas, and the addition of stabilizers now gives Knight Oil Tools’ Rental Tool Services business unit the entire bottomhole assembly, except for the drill bit.”
Focused on providing “zero-failure” equipment and service for 40 years, Knight Oil Tools has grown to be the largest privately held rental and fishing tools business in the oil and gas industry. Knight Oil Tools maintains an extensive inventory of high-quality products for safe, efficient and productive oilfield projects. Operating from more than 50 locations across ten oil-producing states and internationally, Knight Oil Tools serves all phases of a well’s lifecycle from exploration to abandonment.
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