AKITA Drilling and Xtreme Drilling announce strategic business combination

AKITA Drilling Ltd. and Xtreme Drilling Corp. entered into a definitive arrangement agreement to combine, creating a leading intermediate North American land drilling contractor with a fleet of 44 high-spec drilling rigs. The total transaction value is approximately $209 million, including the assumption of about $10 million of Xtreme's net debt.

“The combination with Xtreme, which has a strong operating history and rig technology credentials in the US, provides AKITA with immediate scale in the US market.”newswire.ca

• 1 source
• newswire.caAKITA Drilling Ltd. and Xtreme Drilling Corp. Announce Strategic Business CombinationAKITA Drilling Ltd.Jun 5, 2018

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