Nine Energy Service completed the acquisition of Magnum Oil Tools for $493m.

Nine Energy Service, an oilfield services company, completed the acquisition of Magnum Oil Tools, a downhole technology provider serving the global oil and gas industry, for $493m. “We believe this deal will continue to differentiate Nine within the industry, and Magnum’s capabilities allow us to create a more balanced profile of completion tools. Ultimately, this acquisition delivers an oil field service platform that provides customers with even better service and aids Nine’s continued growth,” Ann G. Fox, Nine President and CEO.