US Weatherford buys Romanian drilling firm
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)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.