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Divestiture • Energy Services and Equipment

CWC Acquires C&J Energy Services - Rig Services Business

On October 30, 2017, CWC acquired energy services and equipment company C&J Energy Services - Rig Services Business from C&J Energy Services for 38M CAD

Acquisition Context
  • This is CWC’s 2nd transaction in the Energy Services and Equipment sector.
  • This is CWC’s 2nd largest (disclosed) transaction.
  • This is CWC’s 2nd transaction in Canada.
  • This is CWC’s 1st transaction in Saskatchewan.

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M&A Deal Summary
Date October 30, 2017
Target C&J Energy Services - Rig Services Business
Sector Energy Services and Equipment
Buyer(s) CWC
Sellers(s) C&J Energy Services
Deal Type Divestiture
Deal Value 38M CAD

Target Company

C&J Energy Services - Rig Services Business

Saskatchewan, Canada
C&J Energy Services Ltd. - Rig Services Business includes canadian fleet of 75 workover rigs, 13 swabbing rigs and the real estate associated with six operating facilities throughout Western Canada.
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Buyer Overview 1

Buyer

CWC

Calgary, Alberta, Canada
Category Company
Sector Energy Services and Equipment
Revenue 205M CAD (2022)
DESCRIPTION

CWC is a contract drilling and well servicing company operating in the Western Canadian Sedimentary Basin with a complementary suite of oilfield services including drilling rigs, service rigs, coil tubing and well CWC Energy Services is based in Calgary, Canada.

Deal Context for Buyer #
Overall 2 of 2
Sector: Energy Services and Equipment 2 of 2
Type: Divestiture 1 of 1
State: Saskatchewan 1 of 1
Country: Canada 2 of 2
Year: 2017 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-15 Ironhand Drilling

Calgary, Alberta, Canada

Ironhand Drilling, Inc. is a drilling contractor operating in Western Canada.

Buy $103M

Seller Profile 1

SELLER

C&J Energy Services

Houston, Texas, United States
Category Company
Founded 1997
Sector Energy Services and Equipment
Employees6,339
Revenue 2.2B USD (2018)
DESCRIPTION
Entrance to C&J Energy Services' corporate headquarters in Houston, Texas.
Entrance to C&J Energy Services' corporate headquarters in Houston, Texas.

C&J Energy Services Inc. is an independent provider of premium hydraulic fracturing, coiled tubing, wireline, pressure pumping and other complementary oilfield services with a focus on complex, technically demanding well completions. C&J Energy Services was formed in 1997 and is based in Houston, Texas.

Deal Context for Seller #
Overall 2 of 2
Sector: Energy Services and Equipment 2 of 2
Type: Divestiture 2 of 2
State: Saskatchewan 1 of 1
Country: Canada 1 of 1
Year: 2017 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-25 O-Tex Pumping

Midland, Texas, United States

O-Tex Pumping LLC is a provider of unrivaled primary and secondary cementing and specialty pumping services throughout most major shales. O-Tex Pumping LLC was established in 2008 and is based in Midland, Texas.

Buy $133M

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