Energy Industry
Industry: Email Alert RSS FeedWeatherford International Ltd
Pipeline & Gas Journal, July, 2005
Weatherford International Ltd. has signed a definitive agreement to purchase Precision Drilling Corporation's Energy Services Division and International Contract Drilling Division. Terms call for Weatherford to pay approximately $2.28 billion. Precision's Energy Services division is a global provider of cased hole and open hole wireline services, drilling and evaluation services (directional drilling, MWD, LWD and rotary steerable systems) and production services (primarily underbalanced drilling).
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This transaction is expected to substantially broaden Weatherford's open hole wireline and directional capabilities.
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