Compelling Combination of Global Energy Services Leaders with Highly Complementary Capabilities
Shareholders to Benefit from Stock-for-Stock Transaction that Allows for Participation in Recovery Upside and Through-Cycle Resiliency due to a More Diversified Earnings Base
Transaction Brings Improved Profitability and Free Cash Flow, with Estimated Annual Cost Synergies of $70 Million
Combination Facilitates Faster, Returns-Focused Growth, with Scope for Additional Investment in Future-Facing Technologies
Strong Pro Forma Financial Profile with No Debt, Approximately $285 Million of Cash
Companies to Host Conference Call Today at 1:30 PM GMT / 7:30 AM CT
PR Newswire
READING, United Kingdom and HOUSTON, March 11, 2021