|
|
Article: Bronco Drilling Company, Inc. Enters into a Joint Venture with CICSA and $75 Million Revolving Credit Facility with Banco Inbursa.
- Article from:
- Business Wire
- Article date:
- September 21, 2009
CopyrightCOPYRIGHT 2009 Business Wire. 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)
|
OKLAHOMA CITY -- Bronco Drilling Company, Inc. (Nasdaq/GS: BRNC, the "Company") announced today that it has entered into a joint venture and revolving credit facility. The Company and Carso Infraestructura y Construccion, S.A.B. ("CICSA") have entered into a joint venture to provide oil and gas drilling and workover services in Mexico and Latin America through the Company's formerly wholly-owned subsidiary, Bronco Drilling MX, S. de R.L. de C.V. ("Bronco MX"). The Company sold to CICSA 60% of its ownership interest in Bronco MX for cash consideration of approximately $30 million. The assets of Bronco MX consist of six drilling rigs, ancillary equipment and profits to two ...