http://signaloil.wpengine.com/wp-content/uploads/2015/10/Signal-Oil-logo-red-300x32.png 0 0 RSS FEED http://signaloil.wpengine.com/wp-content/uploads/2015/10/Signal-Oil-logo-red-300x32.png RSS FEED2018-06-12 05:42:192018-06-12 05:42:19Canadian Drilling Firms Akita, Xtreme To Merge
Canadian Drilling Firms Akita, Xtreme To Merge
Drilling firms Akita Drilling Ltd. and Xtreme Drilling Corp. agreed to merge in a business combination valued at roughly C$209 million, the Calgary, Alberta-based companies said in a joint press release on June 5.
The combined company will operate under the Akita name and have a fleet of 44 high-spec drilling rigs with operations in several major resource basins in the U.S. and Canada.
Xtreme has a strong operating history and rig technology credentials in the U.S., which Akita said will give it immediate scale in the U.S. market including the Permian Basin, where it recently expanded.