Seawell acquires Allis-Chalmers Energy in USD 890m transaction
Seawell Limited and Allis-Chalmers Energy Inc. announced on 12 August that their Boards of Directors have unanimously approved a definitive merger agreement providing for the acquisition of Allis-Chalmers Energy by Seawell in a transaction valued at approximately USD 890m. The combined company will have approximately 6 500 employees and is projected by equity research analysts to have revenues of USD 1,3bn and EBITDA of USD 195m in 2010. The combined company will operate its Drilling and Well Services offerings in more than 30 of the world’s key oil and gas regions.
USD 890m - 2010

Seawell acquires Allis-Chalmers Energy to create Archer as a new global oil services player

Allis-Chalmers Energy is a multi-faceted oilfield service company, providing innovative solutions, services and equipment to oil and gas exploration and production companies in rental services, drilling and completion services, directional drilling, tubular services, underbalanced services and production services. Allis-Chalmers has built a portfolio of innovative products and services. Headquartered in Houston, Texas, Allis-Chalmers operates throughout the U.S. and internationally, primarily in Argentina, Brazil and Mexico.

Seawell is a company providing well services within platform drilling, engineering and well intervention. The services include production drilling and well maintenance services on several platforms, concept studies, drilling facility upgrading and modifications as well as mechanical and electrical wireline services. The company employs more than 3,200 skilled and experienced people and operates offices in Stavanger, Bergen, Aberdeen, Newcastle, Houston, Esbjerg and joint ventures in Abu Dhabi and Kuala Lumpur.

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