Downhole tool service company Turnco LLC has acquired Drill Spec Services, which Turnco said will double its capabilities in oil country tubular goods (OCTG), according to an April 9 press release. Financial details of the transaction were not disclosed.
The integration of Drill Spec’s assets will significantly expand Turnco’s service offerings, especially in the West and South Texas regions, enabling the company to cater to the evolving needs of its expanding customer base, according to the press release.
Turnco said the strategic acquisition will foster “unprecedented growth and enhanced service delivery” for its customers.
“This is a transformative moment for Turnco and our customers,” said Lonnie Smith, president and co-founder of Turnco. “By doubling our OCTG capabilities, we are not just expanding our service offerings; we are elevating them. This acquisition enables our West Texas and South Texas business units to deliver even more exceptional service and support to our growing customer base. It is a testament to our commitment to excellence and our vision for the future.”
Anthony Cooper, who served as Drill Spec Services’ president, will retain a role within Turnco, providing advice and assisting with business development.
With this acquisition, Turnco LLC reaffirms its dedication to providing solutions and support to the oil and gas industry, driving innovation, efficiency and growth, the company said.
Recommended Reading
U.S. Shale-catters to IPO Australian Shale Explorer on NYSE
2024-05-04 - Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Dick Stoneburner.
1Q24 Dividends Declared in the Week of April 29
2024-05-03 - With earnings season in full swing, upstream and midstream companies are declaring quarterly dividends. Here is a selection of dividends announced in the past week.
Analyst Questions Kimmeridge’s Character, Ben Dell Responds
2024-05-02 - The analyst said that “they don’t seem to be particularly good actors.” Ben Dell, Kimmeridge Energy Partners managing partner, told Hart Energy that “our reputation is unparalleled.”
Tellurian Reports Driftwood LNG Progress Amid Low NatGas Production
2024-05-02 - Tellurian’s Driftwood LNG received an extension through 2029 with authorization from the Federal Energy Regulatory Commission and the U.S. Army Corps of Engineers.
Zeta Energy Appoints Michael Everett as COO
2024-05-02 - Prior to joining Zeta Energy, a lithium-sulfur battery developer, Michael Everett previously served as president and COO at Advanced Battery Concepts.