Precision Drilling Corporation Acquires High Arctic's Well Servicing & Rentals Divisions
CALGARY, Alberta, July 18, 2022 (GLOBE NEWSWIRE) -- Precision Drilling Corporation ("Precision" or the "Company") (TSX:PD, NYSE:PDS) is pleased to announce that it has entered into an asset purchase agreement to acquire the well servicing business and associated rentals assets of High Arctic Energy Services Inc. ("High Arctic") for an aggregate purchase price of $38.2 million, payable in cash (the "Transaction"). Precision adds to its Canadian well servicing operation a fleet of 80 service rigs (51 marketed and 29 inactive). The Transaction provides Precision with rental assets, ancillary support equipment, inventories and spares, and six additional operating facilities in key basins, fou
