Porter Hedges Represents Cathedral Energy Services in its $41 Million Acquisition of Rime Downhole Technologies
Porter Hedges represented Cathedral Energy Services Ltd. (TSX: CET) (“Cathedral”) in its acquisition of Rime Downhole Technologies, LLC (“Rime”), through a wholly-owned subsidiary for an aggregate purchase price of $41 million comprised of a combination of cash and common shares of Cathedral.
Cathedral Energy Services Ltd., based in Calgary, Alberta, operates in the U.S. under Cathedral Energy Services Inc. Cathedral is a trusted partner to North American energy companies requiring high-performance directional drilling services.
Rime is a Texas-based engineering company founded in 2012 that specializes in building products for the downhole measurement-while-drilling industry.
For additional information, please see the Cathedral press release here.