Precision Drilling completed the acquisition of CWC Energy Services for $127m.

Precision Drilling, a drilling rig contractor, completed the acquisition of CWC Energy Services, a drilling oil and gas wells company, for $127m. “We are pleased to have completed this strategic acquisition, which positions Precision as the premier well service provider in Canada and enhances our drilling operations in both Canada and the US. With the projected synergies, we expect the transaction to be accretive on a 2024 cash flow per share basis and to support our ongoing deleveraging plan. I am excited to welcome the CWC employees to the Precision team,” Kevin Neveu, Precision Drilling President and CEO.