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                                                                    EXHIBIT 23.3
 
                   CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
 
     As independent public accountants, we hereby consent to the incorporation
by reference in this Registration Statement of our report dated July 31, 1995 on
our audits of the consolidated financial statements of Prideco, Inc. and
subsidiaries included in the Energy Ventures, Inc. Form 8-K/A dated August 17,
1995, as amended by Amendment No. 2 to the Form 8-K/A dated May 7, 1996, and to
all references to our firm included in this Registration Statement.
 
/s/  ARTHUR ANDERSEN LLP
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Arthur Andersen LLP
 
Houston, Texas
June 24, 1996