Sixty Six Acquires Oklahoma-Based Five Star Rigs And Supply

Sixty Six Oilfield Services Inc. said July 10 it completed the acquisition of Five Star Rig and Supply Inc., an Oklahoma-based drilling rig and supply parts company, in an all-stock transaction.

In April, Sixty Six said it had signed a letter of intent to acquire Five Star with plans to raise up to $20 million in debt and expansion capital. The terms of the transaction weren’t disclosed.

Five Star was founded in 1983 as a local oilfield supply company but has evolved over the years to become a manufacturer of oilfield equipment such as centrifugal pumps, wireline machines, bug blowers and FC-1000 and other 1000 HP mud pumps.