H & H Oil Tool Co.’s Revenue, Profits Rise

H & H Oil Tool Co. Inc., a Santa Paula company that rents oil and drilling production equipment, said its profit rose sharply in the third quarter, to $516,000 from $33,000 a year earlier.

The company said revenue in the quarter ended Sept. 30 increased 13% to $5.77 million, from $5.12 million in the same period last year. Henry Rushing, president and chief executive officer, said stable natural gas prices have resulted in increased drilling, production and work-over activity.

For the nine months ended Sept. 30, H & H posted a profit of $974,000, compared with a loss of $932,000 a year earlier. Through three quarters, revenue totaled $15.9 million, up 10% from $14.5 million.