Knight Energy Services Acquires Platinum Pipe Rentals
(P&GJ) — Knight Energy Services, a portfolio company of Voyager Interests, announced on June 5 that it has acquired Platinum Pipe Rentals.
The combined business will have 18 locations across the country, with a fleet of more than 200,000 pieces of rental tools and equipment, including more than 7 million feet of drill pipe and tubing. Knight will remain headquartered in Houston, and Permian operations will be consolidated into Platinum’s world-class facility in Odessa.
“Combined with Platinum, we believe Knight has the largest fleet of rental drill pipe and tubing in the nation, in addition to an expansive fleet of drilling jars, BOPs, tubular handling equipment and other downhole rental tools,” Dwight Gross, CEO and president of Knight, said. “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.”
Platinum, headquartered in Odessa, Texas, is a leading drill pipe and tubing rental operation focused on the Permian Basin and the Eagle Ford Shale. Financial terms of the transaction were not disclosed.
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