Stabil Drill, a wholly owned subsidiary of Superior Energy Services, Inc., is acquiring Rival Downhole Tools. Stabil Drill is a market leader in Bottom Hole Assembly (BHA) support, providing custom component engineering, manufacturing, rentals, and repairs to help customers achieve optimal drilling performance.

Since 1986, our extensive experience with downhole tools has helped operators optimize performance on some of the most challenging drilling operations. We have locations in all major markets in the United States and five international locations with full repair capabilities.

The acquisition of Rival strategically enhances Stabil Drill's market position by integrating innovative product lines, leveraging existing infrastructure, and capitalizing on significant growth opportunities. Combining Rival's expertise with Stabil Drill's offerings will create a premier drilling rental product that enhances customer performance and reduces operating costs.

The companies will move forward under the Stabil Drill brand, with the transition taking place over the coming months. Key Rival product names and trademarks will be retained, and a brand transition timeline will be communicated soon.

Neil Fletcher, former CEO of Rival Downhole Tools, will lead the combined organization as Senior VP of Global Operations of Stabil Drill. The management teams will work together to develop a consolidated structure that enables the organization to grow market share and drive strong performance for shareholders. The organizational structure will be defined over the coming weeks and months.

The integration process is expected to take about six months, with Phase 1 focusing on sales, business development, treasury, HSE, and IT systems. Phase 2 will concentrate on finance, accounting, HR functions, and operations. Most of the integration should be completed by August. Employees should experience minimal impact during this time.

Your supervisors will continue to communicate with you regarding progress and key integration updates.

Supervisors will communicate progress and key integration updates to their teams. Updates on integration progress will also be shared via email.

Employees are encouraged to contact their direct supervisors and HR leaders for immediate questions and concerns. Stabil Drill will update employees via email regarding integration activities as they are executed.

We are looking forward to combining two great organizations and our goal is to retain the talent of both Rival and Stabil Drill to maximize the potential of the combined organization.

The two organizations perfectly complement each other with very little overlap. Because of this, we expect there will be minimal duplication between both organizations which would be evaluated once there is a better understanding of respective roles and responsibilities. An optimal structure will be developed by the management team that create the greatest opportunities for our employee’s success.

We anticipate minimal impact to headcount as our integration goal is retention of talent in both organizations.

Current pay and benefits will remain the same, with the exception of your 401(k) participation. At the close of the acquisition, you will no longer be able to participate in the Rival 401(k) Plan, but you will become eligible to participate in the Superior 401(k) Plan once you become an employee of Stabil Drill in coming weeks and months. Your 401(k) balance will be eligible for a transfer to the Superior 401(k) Plan once you are enrolled. More information will be shared soon.

There should be little to no change.

We will honor your tenure with Rival for PTO levels. Your current vacation and other leave benefits are currently being evaluated and will be communicated with more details of your transition to becoming a Stabil Drill employee.

The organizational structure will initially remain the same for most employees as we evaluate where there are opportunities to consolidate the two companies to streamline operations and solidify our ability to deliver value to our customers.

Initially, there will be minimal change. There will be future communication as opportunities arise to possibly move individuals and teams. Our goal is to develop a structure and defined roles that create the greatest opportunity for our employees to be successful.

There is no plan at this time for relocations to new offices.

That will be evaluated in the event relocations would be required.

We are excited about the potential of these two organizations coming together. We recognize that there are great things about both companies and teams, and hope to find the best of both as we move forward in the consolidation. At Superior, we embrace our Shared Core Values and focus on a belief that how we run our business contributes to our overall success. This is what sets us apart as a fair employer, a trusted business partner, and a good corporate citizen.

We have provided an email template to be sent to your customers along with communications guidelines and FAQ’s. Please reach out to your supervisor if you have questions not covered in provided materials.

Explain that the acquisition enhances both Rival and Stabil Drill’s offerings by integrating innovative product lines, leveraging existing infrastructure, expanding geographic coverage, and strengthening engineering, sales, and IP capabilities. The combined companies will offer a complete suite of downhole drilling tools, enhancing customers' performance and reducing operating costs.

Over the coming weeks, we will develop a sales strategy to maximize market share in the regions we operate. Our two sales teams will merge, leveraging relationships and building brand value.

This acquisition of Rival will allow us to expand our product offerings, improve customer service capabilities, and provide access to a wider range of solutions.

Our intention is to continue offering your current product/service with potential enhancements in the future through integration with the Rival’s company's offerings.

Your existing contracts will be honored, and we will work with you to ensure a smooth transition to the new company structure.

We will uphold the same level of standards Stabil Drill and Rival have always provided with unwavering commitment and expertise to get your job done right every time.

You can continue to reach out to your existing customer service channels, and we will provide information about any updates to contact details as needed.

In the coming months, we will be transferring to Stabil Drill’s accounts payable system. We will communicate in advance and be available to work through this process with our vendors to minimize any disruptions.

Rival currently operates under the same legal structure. Eventually, Rival will be fully integrated into Stabil Drill, under the legal name Stabil Drill Specialties, LLC.

Invoices should continue to be sent under the current process in place. We will communicate with our vendors when changes are required.

If so, for how long? Existing contracts and purchase orders are still in effect. We will communicate with our vendors and suppliers when changes are required.

We will look to develop best practices driven by the current policies and procedures of the two organizations. There are currently no changes being implemented to our vendor selection process.

No changes are currently being made to the locations you are delivering your goods and services to.