Bronco Drilling Company has entered into a purchase and sale agreement to acquire the assets of Duncan, Oklahoma-based Thomas Drilling for $68 million.
The purchase includes nine operating rigs, two rigs currently under construction, and two inventoried rigs. The acquisition also includes excess rig equipment and inventory.
Six of the operating rigs are currently working in
“This is a strategic acquisition for us in terms of personnel, equipment, and expansion into new areas,” commented Frank Harrison, Bronco’s Chief Executive Officer. “This acquisition will be the catalyst that allows us to expand our geographic reach into the Barnett Shale and