Precision Drilling Acquiring US Peer Grey Wolf; Reach Expanding

摘要

Canada's largest drilling firm, Precision Drilling Trust, has reached a deal to buy its US peer Grey Wolf for US2 billion in cash and stock. The combined company will be one of the largest onshore oil and gas rig operators in North America with a combined fleet of 371 drilling rigs and 229 service rigs. It will be active in nearly every conventional and unconventional oil and gas basin in Canada and the US lower 48.