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Houston-based Rival Downhole Tools Acquires Hunting Subsidiary The acquisition of Hunting’s drilling tool business sets the stage for Houston-based Rival Downhole Tools to expand internationally, CEO Neil Fletcher says. Hart Energy Staff Your browser does not support the audio element. Rival Downhole Tools LC is acquiring the drilling tools subsidiary of London-based Hunting Plc, which the CEO of Rival said sets the stage for the company, headquartered in Houston, to expand internationally. “The addition of Hunting’s drilling tool business will enable us to not only serv...
Rival Downhole Tools has acquired the operating assets of Hunting Energy Services (Drilling Tools), Inc. PHOTO SOURCE: Rival Downhole Tools Rival Downhole Tools LC reported Tuesday that it has acquired the operating assets of Hunting Energy Services (Drilling Tools), Inc. (HESDT) in exchange for Hunting PLC securing a minority equity interest in Rival. The acquisition increases Rival’s U.S. footprint and supports its international expansion, Rival noted in a written statement emailed to Rigzone. “This transaction marks a milestone in our mission to build a market leadership position and p...