Business Services Industry
San Antonio-based Pioneer Drilling buys Oklahoma natural gas rival's assets.
Knight Ridder/Tribune Business News, December, 2004
By Bonnie Pfister, San Antonio Express-News Knight Ridder/Tribune Business News
Dec. 2--Pioneer Drilling Co. on Wednesday announced a $7.2 million cash purchase of the assets of an Oklahoma firm, continuing a growth spurt that's doubled the company's rig count in the past year and a half.
The San Antonio-based contract driller said it will purchase the assets of Allen Drilling Co. in Woodward, Okla., in the Andarko natural gas area about 140 miles northwest of Oklahoma City.
Combined with other recent acquisitions and a rig Pioneer will complete in two weeks, the deal will boost the company's land drilling rig count to 49.
Founded in 1976, Allen Drilling owns a 17-acre yard in Woodward and operates five rigs that can drill to...
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