CanElson Drilling Inc. has entered into an agreement to purchase an AC electric tele-double pad drilling rig, two single rigs, spare equipment as well as land and building located in Leduc, Alberta from Calmena Energy Services Inc. for total consideration of $15.0 million (the "Acquisition"). All of the rigs are fully crewed, currently contracted and two are currently operating in Alberta. The transaction is expected to close on July 24, 2013 with an effective date of July 19, 2013.

"With the addition of the rigs including retaining the dedicated and experienced field personnel, the Acquisition expands the Company's service offering to provide additional pad drilling services and horizontal oil drilling with new customers," said Randy Hawkings, President and CEO. "Additionally, historical financial performance of these rigs is less than 3 times EV to EBITDA, making the acquisition very accretive in keeping with the Company's strategy."

Tags: CanElson Drilling Inc.