M&A Deal Summary

Key Acquires Western Drilling

On April 3, 2008, Key acquired energy services and equipment company Western Drilling for 51M USD

Acquisition Highlights
  • This is Key’s 2nd transaction in the Energy Services and Equipment sector.
  • This is Key’s largest (disclosed) transaction.
  • This is Key’s 2nd transaction in the United States.
  • This is Key’s 1st transaction in California.

M&A Deal Summary

Date 2008-04-03
Target Western Drilling
Sector Energy Services and Equipment
Buyer(s) Key
Deal Type Add-on Acquisition
Deal Value 51M USD

Target

Western Drilling

Taft, California, United States
Western Drilling, Inc. provides well service and horizontal drilling services.

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Buyer(S) 1

Buyer

Key

Houston, Texas, United States

Category Company
Founded 1977
Sector Energy Services and Equipment
Employees2,000
Revenue 414M USD (2019)
DESCRIPTION

Key is an onshore, rig-based well servicing contractor based on the number of rigs owned. Key provides a complete range of well intervention services and has operations in all major onshore oil and gas producing regions of the continental United States and internationally in Mexico and Russia. Key was founded in 1977 and is based in Houston, Texas.


DEAL STATS #
Overall 3 of 6
Sector (Energy Services and Equipment) 2 of 2
Type (Add-on Acquisition) 3 of 6
State (California) 1 of 1
Country (United States) 2 of 5
Year (2008) 1 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-25 Moncla Companies

Lafayette, Louisiana, United States

Moncla Companies LLC is a provider of workover and completion rigs to the oil and gas industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-30 Hydra-Walk

Lindsay, Oklahoma, United States

Hydra-Walk, Inc. is a provider of downhole pipe handling solutions for the oil & gas service industry.

Buy $10M