Merger • Energy Services and Equipment

Nabors Acquires Pool Energy Services Co.

On January 12, 1999, Nabors acquired energy services and equipment company Pool Energy Services Co. for 518M USD

Acquisition Context
  • This is Nabors’ 1st transaction in the Energy Services and Equipment sector.
  • This is Nabors’ 2nd largest (disclosed) transaction.
  • This is Nabors’ 3rd transaction in the United States.
  • This is Nabors’ 1st transaction in Texas.

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M&A Deal Summary

Date January 12, 1999
Target Pool Energy Services Co.
Sector Energy Services and Equipment
Buyer(s) Nabors
Deal Type Merger
Deal Value 518M USD
Advisor(s) Morgan Stanley (Financial)

Target Company

Pool Energy Services Co.

Houston, Texas, United States
Pool Energy Services Co., headquartered in Houston, is a diversified energy services company principally engaged in providing well-servicing, workover and drilling services and related transportation services on land and offshore in the U.S. and selected international markets.
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Buyer Overview 1

Buyer

Nabors

Hamilton, Bermuda

Category Company
Founded 1952
Sector Oil/Gas Exploration
Employees12,400
Revenue 2.9B USD (2024)
DESCRIPTION

Nabors owns and operates a land-based drilling rig fleet and has a completion services and workover and well servicing rig fleets in North America. Nabors was founded in 1952 and is based in Hamilton, Bermuda.


Deal Context for Buyer #
Overall 3 of 11
Sector: Energy Services and Equipment 1 of 8
Type: Merger 2 of 3
State: Texas 1 of 3
Country: United States 3 of 7
Year: 1999 1 of 2
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1994-12-22 Delta Drilling Co.

United States

Delta Drilling Co. a oil and gas exploration company.

Buy $20M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-04-07 Bayard Drilling Technologies

Oklahoma City, Oklahoma, United States

Bayard Drilling Technologies a maker of drilling equipment and provider of oilfield services. Bayard was formed by ESC and AnSon Partners Limited Partnership in December 1996 to expand the contract drilling operations previously conducted by Anadarko Drilling Company, an AnSon affiliate.

Buy -