Quantum-backed Premium Oilfield Technologies Acquires Cutter Drilling Systems

Premium Oilfield Technologies said Oct. 26 it acquired Odessa, Texas-based Cutter Drilling Systems, positioning the Quantum Energy Partners-backed company as a leader in the drilling market.

Cutter is the largest provider of medium- and low-pressure rotating control device (RCD) equipment in West Texas in the heart of the Permian Basin. Terms of the transaction were undisclosed.

The acquisition of Cutter adds to a growing Premium product suite and will expand the services they provide customers, according to the company press release.