Patterson Energy buys Robertson Onshore for $40 million

Abilene Reporter News: Business

<script language='JavaScript1.1' src='http://adsremote.scripps.com/js.ng/params.richmedia=yes&site=ABIL&vgncontent=NW_BUSINESS&pagetype=SECTION&adsize=468x60&PagePos=1'></script><noscript> <A HREF="http://adsremote.scripps.com/click.ng/params.richmedia%3Dyes%26site%3DABIL%26vgncontent%3DNW_BUSINESS%26pagetype%3DSECTION%26adsize%3D468x60%26PagePos%3D1"><IMG SRC="http://adsremote.scripps.com/image.ng/params.richmedia%3Dyes%26site%3DABIL%26vgncontent%3DNW_BUSINESS%26pagetype%3DSECTION%26adsize%3D468x60%26PagePos%3D1" BORDER="0" ALIGN="BOTTOM"></A> </noscript>

     Home     News     Obituaries     Sports     Dallas Cowboys     Features     Entertainment     Opinion     Classifieds

NEWS

Local

State

Nation / World

Business

» Columns
» Local Stocks
» Personal Finance
» Windmill Monthly

Education

Military

News Quiz

Obituaries

Political

Weather

Search by ticker symbol or company name for a quick quote:

Archives

Saturday, January 24, 1998

Patterson Energy buys Robertson Onshore for $40 million

Dow Jones News Service

SNYDER, Texas (Dow Jones News) -- Patterson Energy Inc. said Friday it agreed to acquire closely held Robertson Onshore Drilling Co. for $40 million.

Patterson, based in Snyder, Texas, provides onshore drilling services to domestic oil and natural gas companies. For the nine months ended Sept. 30, Patterson had revenue of $120 million.

Patterson has the option to acquire Dallas-based Robertson for $40 million in cash, or $30 million in cash and $10 million in stock.

With the acquisition, expected to close next month, Patterson will increase its contract drilling fleet by 15 fully operable drilling rigs, 10 of which are in east Texas and five in Louisiana and Mississippi. The acquisition also includes a yard in Liberty City, Texas.

The rigs have depth capacities of 6,000 feet to 16,000 feet.

Send a Letter to the Editor about This Story | Start or Join A Discussion about This Story

Send the URL (Address) of This Story to A Friend:

Enter their email address below:

texnews.com
Reporter OnLine
Local News
Business

Copyright ©1998, Abilene Reporter-News / Texnews / E.W. Scripps. Publications

  Search current site:


  Search archives for:


Marketplace

<script language='JavaScript1.1' src='http://adsremote.scripps.com/js.ng/params.richmedia=yes&site=ABIL&vgncontent=NW_BUSINESS&pagetype=SECTION&adsize=120x600&PagePos=1'></script><noscript> <A HREF="http://adsremote.scripps.com/click.ng/params.richmedia%3Dyes%26site%3DABIL%26vgncontent%3DNW_BUSINESS%26pagetype%3DSECTION%26adsize%3D120x600%26PagePos%3D1"><IMG SRC="http://adsremote.scripps.com/image.ng/params.richmedia%3Dyes%26site%3DABIL%26vgncontent%3DNW_BUSINESS%26pagetype%3DSECTION%26adsize%3D120x600%26PagePos%3D1" BORDER="0" ALIGN="BOTTOM"></A> </noscript>

© 1995- The E.W. Scripps Co. and the Abilene Reporter-News.
All Rights Reserved.
Site users are subject to our User Agreement. We also have a Privacy Policy.

<script language="JavaScript1.1" src="http://adsremote.scripps.com/js.ng/params.richmedia=yes&site=ABIL&vgncontent=TOP_JOBS&Section=top_jobs&PagePos=2"></script>