Nabors Tie-Up With C&J to Create Giant North American Completions Business

摘要

C&J Energy Services Inc. late Wednesday agreed to merge with Nabors Industries Ltd.’s completions arm in a $2.86 billion deal that would create one of the largest hydraulic fracturing (fracking) businesses in North America. Nabors’ completion and production arm is the sixth largest in the United States. C&J owns the 13th biggest fleet of trucks used in U.S. fracking operations. The combined Houston-based company would retain the C&J name and existing management team, led by founder and CEO Josh Comstock, who called the transaction monumental.