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US Weatherford buys Romanian drilling firm

Deals

Houston-based Weatherford International, oilfield-services company bought a majority stake in Romanian oil driller Atlas Gip SA for about 50 million lei ($22 million).

The company paid 83 lei per share for a 70% stake in Atlas Gip from Tender SA, a Romanian group comprising companies with operations in the energy, construction and real estate industries, the oil driller said Thursday in a regulatory filling to the Rasdaq market.

Ploiesti, Romania-based Atlas Gip is the largest logging and drilling company in Romania and provides services to Romania’s largest oil and gas companies Petrom SA and Romgaz Medias SA and to various companies in Algeria, Iraq, Jordan, Kazakhstan and Libya. (SmartBrief, Bg)

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