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Ensign Energy and Nabors Industries close sale of Nabors’ drilling assets

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The Calgary-based global leader in oilfield services Ensign Energy Services Inc. and Nabors Industries Ltd., announced today the purchase’s completion of the fleet of 35 land-based drilling rigs hitherto owned by Nabors’ Canadian subsidiary.

Read more of our news content, here; Cenovus Energy posts a 2% rise in quarterly profit; to pre-pandemic levels

Additionally, Ensign Energy purchased related equipment, inventory, and real property for a purchase price of CDN $117,500,000 (approximately US $93,250,000).

Ensign Energy and Nabors close sale

In fact, Ensign Energy and Nabors Industries noted that they satisfied all closing conditions; for instance, including the receipt of a “no-action letter” from the Competition Bureau confirming that the Commissioner of Competition does not intend to challenge the Transaction.

In this sense, RH (Bob) Geddes, Ensign’s President, and Chief Operating Officer, commented on the acquisition; “Indeed, we are thrilled to welcome our new employees to the Ensign team. Besides, we look forward to the smooth integration of both field and office employees.”

Moreover, “with our now expanded high-spec drilling fleet in Canada, we look forward to leveraging these strong assets,” continued Geddes. Also, “the combined knowledge and experience of our highly trained workforce in the continuing delivery of high-quality performance, safety, and service to our customers.”

About the companies

Indeed, and it is worth noting, Ensign is a global leader in oilfield services. It is headquartered out of Calgary, Alberta, operating in Canada, the United States, and Internationally. Besides, it is one of the world’s premium land-based drilling and well-servicing contractors; particularly, serving crude oil, natural gas, and geothermal operators around the globe.

Additionally, the company’s premium services include contract drilling, directional drilling, underbalanced and managed pressure drilling; and also, rental equipment, well servicing, and production services.

On the other hand, Nabors is a leading provider of advanced technology for the energy industry. Particularly, with operations in approximately 20 countries, Nabors has established a global network of people, technology, and equipment to deploy solutions that; indeed, deliver safe, efficient, and sustainable energy production.

Therefore, by leveraging its core competencies, particularly in drilling, engineering, automation, data science, and manufacturing, Nabors aims to help shape the future of energy. Also, to enable the transition to a lower-carbon world.

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