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New Deal


Announced

Total Energy Services to acquire Saxon Energy Services Australia from Schlumberger for $37m.

Financials

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Transaction Value£29m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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land drilling

Australia

Oil Equipment and Services

well construction

Cross Border

Acquisition

Majority

Private

Pending

Friendly

Single Bidder

Synopsis

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Total Energy Services, a provider of various services in the field of contract drilling, rentals, transportation, contract well and fabrication, agreed to acquire Saxon Energy Services Australia, a provider of land drilling and well construction services, from Schlumberger, a technology company that offers energy technology services, for $37m. When completed, the acquisition will increase the depth capacity of Savanna Australia’s drilling rig fleet, add experienced local personnel and expand Savanna Australia’s customer base.

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