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C&J to Acquire Nabors Frac Business; FracTech Moves Down One
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Nabors Industries Ltd. has signed a definitive agreement to combine its completion and production services businesses in the U.S. and Canada with C&J Energy Services, Inc., an independent oilfield services and manufacturing company.
In regard to the deal, Shale Experts CEO Rons Dixon commented: "The combined company will have a little more than 5% market-share and now moves into 4th position behind Halliburton, Schlumberger and Baker Hughes."
The combined horsepower of the business will now be 1.1 million. According to data from the Shale Experts frac database, the combined company will be the 4th largest in terms of frac jobs completed.
Following the completion of this transaction, Nabors will own approximately 53 percent of the combined company, which will be incorporated in Bermuda and…
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