Weatherford International completed
the sale of its Precision Drilling
Services Saudi Arabia, including
11 land drilling rigs and
associated customer
contracts, to ADES
International for $92.5 million. This is
the second of four planned, announced
in July, of Weatherford's land drilling
rigs in Algeria, Kuwait and Saudi Arabia,
as well as two idle land rigs in Iraq, to
ADES for a total of $287.5 million. In
November, Weatherford and ADES
closed on the Kuwait rigs for $123
million plus another $12 million pending
the delivery of Iraq rigs. Private equity......
Provide your credentials to access this page
Member Area: Log in if you have a PLS web account or Sign up for internet access now.