C&J Energy Services Chairman and CEO, Josh Comstock says, “The combined company will possess greatly increased capacity for our best-in-class hydraulic fracturing, coiled tubing and wireline offerings, and introduce cementing to our suite of completion services.”
Comstock adds, ” The combined company will also benefit from a larger customer base and an expanded geographic reach with a significant presence in all major domestic basins.”
Nabors Chairman, President & CEO, Tony Petrello says “Nabors will retain shares representing a 53% ownership stake, and will receive a cash payment of approximately $937 million.”
C&J will be headquartered in Bermuda, with corporate offices in Houston.
(Source: Energy Now)