SerpApi.Org
- Ensign Energy Services (ESI:CA) Tuesday announced that it, through a subsidiary, has entered into an agreement with the shareholders of Citadel Drilling for Ensign to acquire, subject to certain closing conditions, all of the issued and outstanding shares of CDL for consideration of $65M.
- Ensign will be funding the purchase price with cash on hand and available credit facilities.
- "The acquisition of Citadel's business in the US Permian area provides Ensign with an expanded fleet of 6 high-spec AC drilling rigs supported by a top notch, experienced management team, highly trained technical crews, and a complement of managed pressure drilling packages with engineering support (operated as Opla Energy Services)," Robert Geddes, Ensign's COO, said.
Ensign Energy to buy Citadel Drilling for $65M to expand Permian fleet
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1 min read
Ensign Energy Services (ESI:CA) Tuesday announced that it, through a subsidiary, has entered into an agreement with the shareholders of Citadel Drilling for Ensign to acquire, subject to certain closing conditions, all of the issued and outstanding shares of CDL for consideration of $65M. Ensign will be funding the purchase price with cash on hand...
