# Dril-Quip and Innovex Downhole Solutions to merge in all-stock deal

Dril-Quip, Inc. and Innovex Downhole Solutions, Inc. announced a definitive agreement to merge in an all-stock transaction. Dril-Quip stockholders will own approximately 52% and Innovex stockholders approximately 48% of the combined company.

- Type: Acquisition
- Announced: 2024-03-19
- Status: announced
- Products: oil and gas equipment, downhole tools
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Dril-Quip](https://endata.com/companies/3590.md)
- [Dril-Quip](https://endata.com/companies/3590.md) (acquirer)
- [Innovex Downhole Solutions](https://endata.com/companies/76298.md) (target)
- [Innovex](https://endata.com/companies/76410.md) (target)

## Sources

- [worldoil.com](https://worldoil.com/news/2024/3/19/dril-quip-innovex-downhole-solutions-merge-to-form-unique-oil-and-gas-industrial-platform), 2024-03-19: "Dril-Quip, Inc. and Innovex Downhole Solutions, Inc. announced a definitive agreement under which Dril-Quip and Innovex will merge in an all-stock transaction to create a unique energy industrial platform."
- [jpt.spe.org](https://jpt.spe.org/dril-quip-to-merge-with-innovex-downhole-solutions), 2024-03-19: "Oilfield equipment and service providers Dril-Quip and Innovex Downhole Solutions (IDS) are teaming up in an all-stock deal to create a strong energy platform."
- [drillingcontractor.org](https://drillingcontractor.org/dril-quip-merging-with-innovex-to-create-energy-industrial-platform-68522), 2024-03-25: "The multi-decade legacy and strong reputation of Dril-Quip's technology, brand and expertise, paired with the customer-centric, innovative and execution-oriented cultures of both companies will help us continue to manufacture and deliver innovative products and service to our customers."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.