HOUSTON - Boots & Coots International Well Control Inc., which provides pressure control and fire-extinguishment services to petroleum drillers, Friday said it will soon begin renting out equipment.

Boots & Coots said it plans to focus on the flow back rental market and other offerings that complement the company’s hydraulic workover, snubbing and well control services.

“Snubbing is the control of a tubing string while running it in or out of a well bore under pressure,” according to the Occupational Safety & Health Administration.

The company hired Mike Clark as vice president of operations, Tom Hendrix as vice president of business development and Glen Hendrix as operations manager, for its new rental tools division.

Boots & Coots also said it opened a facility in Decatur, Texas, with three hydraulic rig assist units and two stand-alone snubbing units, and intends to add rental services during the fourth quarter.

Shares of Boots & Coots fell 8 cents, or 5.5 percent, to $1.43 in afternoon trading. The company’s stock has traded between $1.40 and $2.99 in the past year.

Copyright 2007 Associated Press. All rights reserved. This material may not be published broadcast, rewritten, or redistributed. forbes