Loading articles...

Ensign Energy Services to buy Canadian drilling assets from Nabors Industries

The Ensign Energy Services Inc. logo is seen in this undated handout photo. THE CANADIAN PRESS/HO, Ensign Energy Services Inc. *MANDATORY CREDIT*

CALGARY — Oilfield services company Ensign Energy Services Inc. says it has signed a deal to buy the Canadian drilling assets of Nabors Industries Ltd.

Financial terms of the agreement were not immediately available.

The companies say the deal includes Nabors’ fleet of 35 land-based drilling rigs in Canada, as well as related equipment and certain other property.

Robert Geddes, Ensign’s president and chief operating officer, says the deal gives Ensign an expanded fleet of drilling rigs along with highly trained crews.

Ensign provides contract drilling and other services in Canada, the U.S. and internationally.

The deal is subject to certain closing conditions and regulatory approvals.

This report by The Canadian Press was first published June 24, 2021.

Companies in this story: (TSX:ESI)

The Canadian Press