Drilling Tools buys Premium Oilfield's drill pipe rental unit

Drilling Tools International Inc, a portfolio company of Hicks Equity Partners LLC, has acquired the drill pipe rental division of Premium Oilfield Services LLC. Financial terms weren’t announced. Premium Rental Tools, of New Iberia, Louisiana, rents drill pipe, tubing workstrings, blowout preventers and handling tools to E&P operators in North America.

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