CALGARY, Sept. 1, 2011 /CNW/ - Ensign Energy Services Inc. ("Ensign" or the "Company") is pleased to announce that it has completed the previously announced
acquisition of the land drilling division of Rowan Companies, Inc. ("Rowan Land Drilling"). The transaction, which is effective and closed on September 1,
2011, expands the Company's United States oilfield services operations
into the southern United States market. The drilling rig fleet
consists of 30 deeper capacity electric land drilling rigs that are
well suited for extended-reach drilling in the oil and natural gas
resource plays of Texas, Louisiana, Arkansas, Alabama and Oklahoma.
Rowan Land Drilling was acquired for USD$510 million and provides Ensign
with a substantial presence in the southern United States market. The
purchase price was funded through the Company's existing working
capital, available lines of credit and a new term facility of USD$400
Ensign is pleased that the Rowan Land Drilling operations team led by
Mr. Danny Patterson, Vice President of Rowan Land Drilling, has joined
the Company. Their operating expertise with this equipment in these
key energy producing areas will enable Ensign to continue to provide
its existing and new customers with high quality drilling services.
This new division will give Ensign an excellent base from which to
service the strategically important oil and natural gas resource areas
in the southern United States.
The completion of this transaction increases Ensign's United States
based drilling rig fleet to 115 rigs and gives the Company a total
global drilling rig fleet of 340 marketed drilling rigs.
Ensign Energy Services Inc. is an international oilfield services
contractor based in Calgary, Alberta. Ensign's common shares are
publicly traded through the facilities of the Toronto Stock Exchange
SOURCE Ensign Energy Services Inc.
For further information:
Bob Geddes, President & COO, or Glenn Dagenais, Executive Vice President Finance & CFO, at 403-262-1361