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Article: Oil States Acquires Three Drilling Rigs in West Texas.
- Article from:
- PR Newswire
- Article date:
- August 31, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON, Aug. 31 /PRNewswire-FirstCall/ -- Oil States International, Inc. today announced that its land drilling subsidiary, Capstar Drilling, L.P., acquired three land drilling rigs in the Permian Basin for total consideration of $14.0 million. The rigs are new or newly refurbished and are consistent in design and operation with the Company's existing drilling rig fleet. The acquisition was principally financed with funds available under Oil States' existing credit facility.
"These rig additions represent our commitment to growing the Company and expanding our presence in key resource plays in the U.S.," stated Douglas E. Swanson, Oil States' Chief Executive ...