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Oilwell drillers Trinidad and CanElson to merge in $505 million deal

2015-06-11 20:03:49| Logistics - Topix.net

Oilfield services companies Trinidad Drilling Ltd. and CanElson Drilling Inc. have agreed to merge in a deal worth $505 million. The merger is intended to save costs and create a more geographically diverse base of operations, according to the companies, as the industry faces major spending cutbacks.

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