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Oil & Gas Exploration & Production M&A image Oil & Gas Exploration & Production M&A » By The Online Investor Staff, updated Sun., May. 12, 9:06 AM Recent mergers and acquisitions in the Oil & Gas Exploration & Production M&A category.

Slide #78. Western Energy Services Corp. IROC Energy Services Corp.

Acquirer: Western Energy Services Corp. (WRG.CA)
Acquiree: IROC Energy Services Corp. (ISC.CA)
Details: Western Energy Services Corp. ("Western") (TSX: WRG) and IROC Energy Services Corp. ("IROC") (TSX Venture: ISC) are pleased to announce that they have entered into an arrangement agreement (the "Arrangement Agreement") to combine Western's premier contract drilling fleet with IROC's industry leading well servicing fleet and oilfield equipment rental business (the "Transaction"). The combined company will operate one of the newest fleets of equipment in each of its respective service lines. The quality of the equipment, coupled with their operational excellence, is evident in that both companies currently yield one of the highest rig utilizations in each of their respective industry segments.

Western Energy Services is an oilfield service company focused on contract drilling, well servicing and oilfield rental equipment services. Co. provides contract drilling services through its division, Horizon Drilling in Canada, and its wholly owned subsidiary, Stoneham Drilling Corporation ("Stoneham") in United States. Co. provides well servicing and oilfield rental equipment services in Canada through its wholly owned subsidiary Western Production Services Corp. ("Western Production Services"). Western Production Services' division, Eagle Well Servicing provides well servicing operations, while its division, Aero Rental Services provides oilfield rental equipment services.

Open the WRG.CA Page at The Online Investor »

Western Energy Services is an oilfield service company focused on contract drilling, well servicing and oilfield rental equipment services. Co. provides contract drilling services through its division, Horizon Drilling in Canada, and its wholly owned subsidiary, Stoneham Drilling Corporation ("Stoneham") in United States. Co. provides well servicing and oilfield rental equipment services in Canada through its wholly owned subsidiary Western Production Services Corp. ("Western Production Services"). Western Production Services' division, Eagle Well Servicing provides well servicing operations, while its division, Aero Rental Services provides oilfield rental equipment services.

Open the ISC.CA Page at The Online Investor »

Company Name:  Western Energy Services Corp
Website:  www.wesc.ca
Sector:  Oil & Gas Equipment & Services
Company Name:  IROC Energy Services Corp
Website:  www.iroccorp.com
Sector:  Oil & Gas Equipment & Services
 

May 12, 2024    9:06 AM Eastern
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