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BRIEF-Essential Energy sells service rig division to Precision Drilling for $28 mln
December 13, 2016 / 6:31 AM / in 7 months

BRIEF-Essential Energy sells service rig division to Precision Drilling for $28 mln

1 Min Read

Dec 13 (Reuters) - Essential Energy Services Ltd :

* Says essential will sell its service rig business to Precision in a transaction valued at approximately $28 million

* Precision will pay for service rig business with transfer of its coil tubing and pumping assets and cash proceeds of $12 million

* Says will be no transfer of employees as coil well service assets have been parked since q1 of 2016

* Essential Energy Services announces acquisition of coil tubing and pumping assets and disposition of service rig division Source text for Eikon: Further company coverage:

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