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Article: Parker Drilling to Buy Drilling Contractor
- Article from:
- PR Newswire
- Article date:
- April 8, 1997
CopyrightCOPYRIGHT 1997 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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TULSA, Okla., April 8 /PRNewswire/ -- Parker Drilling Company (NYSE: PKD) announced today that it has entered into an agreement to acquire substantially all the assets of a leading drilling contractor in Bolivia.
Bolifor, S.A., a Bolivian-owned contractor with rigs located in Bolivia, Paraguay and Argentina, has agreed to sell Parker 11 rigs and a considerable inventory of spare parts, tubulars, camps and vehicles.
In addition, with approval of its customers, Bolifor will assign to Parker all of its drilling contracts under which Bolifor rigs are currently working. No additional terms of the agreement were disclosed. Closing on the transaction is ...