Drilling Tools International plans SPAC merger

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The transaction, valued at more than $209 million according to documents filed with the SEC, is expected to be completed in the second quarter.

Pumpjacks operate near a drilling rig along State Highway 191 between Midland and Odessa. ROC Energy Acquisition Corp., a special-purpose acquisition company, on Feb. 13 entered into a definitive agreement to merge with Houston’s Drilling Tools International, an oilfield services company that rents downhole drilling equipment.ROC Energy Acquisition Corp., a special-purpose acquisition company, on Feb.

Talos Energy Inc. completed its acquisition of EnVen Energy. After completing the acquisition After the deal, Talos has a market capitalization of approximately $2.5 billion.

 

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