One-Page Deal Sheet
Schlumberger Acquires CASING DRILLING division from Tesco
Schlumberger Limited Tesco Corporation
Announced Date
April 30,2002
Transaction Type
Asset
Location
Country
United States
Transaction Details: Subscribe to see
Tesco Corporation and Schlumberger today announced that they have signed a definitive agreement for Schlumberger to acquire Tesco's CASING DRILLING™ division for $45 million in cash.
"The sale of CASING DRILLING™ will allow Tesco to focus on delivering best-in-class service quality and return on capital employed; a key part of our go forward strategy," said Julio M. Quintana, Chief Executive Officer and President of Tesco Corporation. "Tesco has been an innovator throughout our history and our innovative culture continues to foster new ideas that will add long-term value to our shareholders.
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