AKITA Drilling acquired all of the issued and outstanding common shares of Xtreme Drilling, completing the C$209 million (US$158 million) transaction. The combination creates a North American land driller with a fleet of 44 high-spec rigs. While Akita operates primarily in Western Canada, Houston-based Xtreme served customers in the Midcontinent, Appalachia and the DJ Basin, meaning the companies had no geographic overlap. Former Xtreme shareholders own 57% of Akita’s Class A non-voting shares. In......
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