Business
Ensign Energy Services Inc. announces expansion of its United States operations
Jul. 20, 2011 (Canada NewsWire Group) -- CALGARY, July 20, 2011 /CNW/ - Ensign Energy Service...
About this update from Ensign Energy Services Inc.
[{"type":"text","content":"\n\n\n Jul. 20, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nCALGARY, July 20, 2011 /CNW/ - Ensign Energy Services Inc. ("Ensign" or the "Company") (TSX: ESI) is pleased to announce that it has entered into a\n definitive agreement to acquire the land drilling division of Rowan\n Companies, Inc. ("Rowan Land Drilling"), for a purchase price of USD $510 million plus working capital,\n payable in cash on closing, which is expected to occur following the\n receipt of all necessary regulatory approvals. Rowan Land Drilling owns\n and operates 30 deeper capacity electric land drilling rigs, all of\n which are equipped with top drives, in the southern United States.\n\n\nThe acquisition by Ensign of Rowan Land Drilling will provide Ensign\n with a substantial presence in the southern United States,\n complementing Ensign's existing United States operations in the Rocky\n Mountain region and California. Rowan Land Drilling has experienced and\n professional personnel operating one of the newest AC horizontal\n premium drilling rig fleets in the business, as over one-half of the\n drilling rigs were constructed in the last five years and many of the\n drilling rigs are equipped with automated pipe-handling capabilities.\n The drilling rig fleet is comprised of 24 x 2000hp drilling rigs, 3 x\n 3000hp drilling rigs and 3 x 1500hp drilling rigs, and is ideally\n suited for extended-reach drilling in the oil and natural gas resource\n plays of Texas, Louisi...