CanElson Drilling Inc. has closed the previously announced acquisition of CanGas Solutions Ltd., a company that provides containerized natural gas transport services in Alberta and Saskatchewan.

These services are used to capture and monetize raw natural gas that is being flared at oil wells not tied into gathering systems, and to transport processed natural gas for use as a fuel to displace diesel.

CanElson continues to believe bi-fuel technology will not only reduce the environmental impact of exhaust emissions, but also reduce fuel costs as the lower priced natural gas is replacing diesel which has an estimated equivalent natural gas value of more than $30 per thousand cubic feet. CanElson has issued 2,052,239 common shares for 100% of the shares of CanGas.

Tags: CanElson Drilling Inc.