Knight Energy Services (Knight) has acquired Platinum Pipe Rentals (Platinum), the Voyager Interests portfolio company announced June 5.
Platinum Pipe Rentals is a drill pipe and tubing rental company in the Permian Basin and Eagle Ford Shale. Its acquisition adds a fleet of downhole rental tools, including drilling jars, tubular handling equipment and over seven million feet of drill pipe and tubing to Knight’s arsenal.
“Today is an extremely exciting day for Knight. Combined with Platinum, we believe Knight has the largest fleet of rental drill pipe and tubing in the nation,” said Dwight Gross, CEO and president of Knight. “We have operations in every key basin and as a result of Platinum’s presence in the Permian, we are now a real force in the most active oil and gas region in the country.”
As part of the deal, founder and president of Platinum, Mickey Padilla will join Knight as a senior executive staff member, shareholder and board member.
Headquartered in Houston, Texas, Knight will continue to supply the upstream oil and gas industry with drilling, completion, production and decommissioning services—now with 18 locations across the country. Its Permian operations will be consolidated into Platinum’s headquarters and facility in Odessa.
Financial details of the transaction were undisclosed.
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